> US House passes Bill to limit cost of insulin to $35/mo
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> fulfilling its promise of lowering drug costs.
Insulin costs under $5 to make. If they had in fact limited the price to $35/months that would be fantastic. But what the bill actually does is force insurers to pick up 100% of costs over $35/month, allowing pharma companies to keep charging abusive rates and everyone will indirectly pay for that by increased premiums.
Even the bill's own summary[0] is much more clear on what it does than this article:
> This bill limits cost-sharing for insulin under private health insurance and the Medicare prescription drug benefit.
That's literally the first line.
The second line is:
> Specifically, the bill caps cost-sharing under private health insurance for a month's supply of selected insulin products at $35 or 25% of a plan's negotiated price (after any price concessions), whichever is less, beginning in 2023.
This might seem like a distinction without a difference, but I strongly disagree. Insulin prices themselves are abusive and the underlying problem here, this doesn't even seek to address those and instead just hides the profiteering behind higher insurance premiums.
Time to actually fix drug pricing and not keep shoving everything behind an insurance smokescreen and then acting surprise then insurance premium rates are astronomical.
[0] https://www.congress.gov/bill/117th-congress/house-bill/6833...