Understanding the $35 Insulin Price Caps: Trump vs. Biden
Diabetes affects millions of Americans, and for many, insulin is a lifeline. However, the cost of insulin in the United States can be exorbitant. In response to this issue, both the Trump and Biden administrations have taken steps to cap insulin prices at $35 for certain Medicare recipients.
Former President Donald Trump claimed credit for implementing the $35 insulin price cap during his time in office, but President Joe Biden’s administration has expanded the coverage to include more individuals.
In July 2020, Trump signed an executive order establishing the “Part D Senior Savings Model,” which lowered the monthly costs of insulin to $35 for select Medicare patients enrolled in Part D prescription drug plans. This program was voluntary and in effect from 2021 to 2023.
On the other hand, President Biden signed the Inflation Reduction Act in August 2022, which mandated all Part D plans to charge no more than $35 per month for covered insulin products. This legislation also limited cost-sharing for insulin covered under Part B to $35 per month.
While both administrations implemented the $35 insulin price cap, Biden’s policy covers a larger number of Medicare patients compared to Trump’s program. Under Biden, over 3.3 million individuals have access to the affordable insulin copay, while Trump’s program reached around 800,000 users.
Despite the efforts to reduce insulin costs, there are ongoing discussions about potential repeals and modifications to the Inflation Reduction Act. Vice President Kamala Harris has expressed a commitment to further lowering prescription drug prices if she becomes president.
It’s essential to stay informed about healthcare policies and initiatives that impact access to vital medications like insulin. The $35 insulin price caps represent a significant step towards making this life-saving medication more affordable for those who need it.
For more verified facts and updates on important issues, consider subscribing to our newsletter, text alerts, and social media channels. Stay informed and empowered to separate fact from fiction. Together, we can navigate complex healthcare policies and ensure access to essential treatments for all.
Remember, your health matters, and so does accurate information. Stay informed, stay empowered!
