House OKs $35 insulin price cap; Lincoln man says he would save hundreds of dollars a month

One Lincoln man says he paid $1,300 for a three-month supply

LINCOLN, Neb. (KLKN) – The U.S. House passed a bill on Thursday that would set restrictions on the price of insulin.

This comes after lawmakers held a virtual roundtable with citizens to propose that the maximum cost of insulin be set at $35 a month for insured patients.  They agreed it’s not a mere inconvenience if you can’t access the drug, as patients could die.

Some also argued that since the formula for insulin was created 100 years ago, there is no reason for its cost to rise.  One lawmaker went as far as to say that diabetics are paying the cost of greed.

Lincoln resident Dave Soldan has battled diabetes for 25 years and says he’s seen the price increase through the years.

“I’ve seen huge jumps and increases in prices over the years. I’ve just recently refilled my long-acting insulin, and it cost me over $1,300 for a three-month supply,” Soldan said.

Soldan’s daughter Jennifer Ziemba supports the bill, saying that her father needs his insulin to live and that the prices shouldn’t be a debate.

“So with the prices so high, he’s only been able to purchase one of his insulins at the moment,” she said. “I think it’s really important that people can afford their medications, especially insulin. Diabetics can only control their diabetes so much.”

The Kaiser Family Foundation found that Medicare spending on insulin increased 840% between 2007 and 2017.  That is a jump from $1.4 billion to $13.3 billion.

If approved, the bill would take effect in 2023, and the Senate could take up the bill within a matter of weeks if there is a bipartisan agreement.