Inflation Reduction Act aims to reduce
Medicare insulin expenses.
By The Exchange Team
The newly approved Inflation Reduction Act caps Medicare insulin at $35 per month.
New research from Yale University crushed hopes to lower insulin pricing for 7.9 million diabetes patients.
14% of U.S. insulin users have "catastrophic" spending levels, according to Yale.
Insulin costs at least 40% of their wages once standard housing and food costs are deducted.
The Senate bill has received praise from senior advocacy groups such as AARP.
Medicare can negotiate drug prices. Medicare Part D out-of-pocket spending would be capped at $2,000.
The $2,000 yearly cap for Medicare users is "by far the most important," says RAND senior health economist Andrew Mulcahy.