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Standing Alongside Central New York Residents Who Need Insulin Daily, Schumer Announces He Will Demand Vote On Insulin Cost Cap; List Prices For Insulin Rise Rapidly, With Average Increase Of 15 – 17% Per Year Since 2012

Under Plan, Price For Insulin Could Not Exceed $35; An Amazing 1 In 4 Are NOW Rationing The Drug Because Of Cost

Schumer: No CNY Family Should Ever Be Forced To Ration Insulin, We Must Cap The Cost To Save Lives 

Standing shoulder to shoulder with Central New York residents with diabetes who need insulin daily and medical experts, U.S. Senate Majority Leader Charles E. Schumer doubled down on his push to reduce the outrageous cost of the drug and announced he will call for a Senate vote in March to get the cost down from $200-$600 per prescription to a cap of $35. Schumer said that the price of insulin has been rising rapidly for years, with an average increase of 15-17% per year since 2012. Schumer further said that 1 in 4 Americans now ration the drug, which is potentially life threatening; Schumer unveiled his Affordable Insulin Now Act to improve access to this life-saving medicine and ensuring that families like those in Syracuse will never be forced to ration this critical drug due to unreasonably high cost.

“Every single day, millions of Americans and countless people right here in Syracuse with diabetes are being forced to make impossible decisions, paying more and more for their insulin or rationing it so it lasts longer, and this has got to end. No Syracuse family should have to go bankrupt just because they need insulin to survive and I am here to say that I will call for a Senate vote on capping this cost come March,” said Senator Schumer. “The current cost of this life-saving drug runs from $300-$600 per prescription; it is not just ridiculous it’s dangerous. Millions of Americans and too many Central New York residents stand with me on this push to cap the cost of insulin at $35 so we can stop rationing this drug, and finally make insulin more affordable and accessible for all Americans.” 

“Our amazing team of specialists from the Joslin Diabetes Center at SUNY Upstate Medical University care for the largest number of patients with diabetes in Central New York, so we understand the impact that Senators Schumer and Warnock’s leadership will have on thousands of people in our community,” said SUNY Upstate Medical University President Mantosh Dewan, MD. “We applaud their championing of the Affordable Insulin Now Act, and we look forward to its swift enactment.”

“Through decades of treating people with diabetes and working in diabetes research and education, I’ve seen a heartbreaking number of people in this community who can’t afford the insulin they need, risking debilitating complications and even mortality. We know that one in four Americans with diabetes was forced to ration their insulin during the COVID-19 pandemic. This $35 out-of-pocket cap on insulin will save lives, prevent serious complications and hospitalizations as a result of diabetes and allow Americans living with diabetes to thrive,” said Ruth Weinstock, MD PhD, Medical Director of Joslin Diabetes Center at SUNY Upstate Medical University.

Schumer broke down the estimated percentage of adults with diagnosed diabetes according to the CDC, by county in Central New York below:

  • In Cayuga County, an estimated 9.1% of adults are diagnosed with diabetes.
  • In Cortland County, an estimated 9.8% of adults are diagnosed with diabetes.
  • In Onondaga County, an estimated 8.0% of adults are diagnosed with diabetes.
  • In Oswego County, an estimated 10.4% of adults are diagnosed with diabetes.

In New York State alone, an estimated over 1.7 million people, nearly 11% of the adult population, plus over 450,000 New Yorkers who have diabetes but don’t know it.

Schumer explained that the Affordable Insulin Now Act would cap out-of-pocket costs of insulin products at $35 per month for people with private health plans and Medicare Part D plans, including Medicare Advantage drug plans. The bill applies to one of each dosage form (ie. vial, pump, inhaler) of each different type of insulin. Schumer said that the diabetes community and patient advocates have called for these policy changes for years and have worked nonstop to educate Congress and the public about the barriers people with diabetes face in accessing affordable insulin.

According to the American Diabetes Association, people with diabetes account for $1 of every $4 spent on health care in the U.S.  The Health Care Cost Institute estimated that the average price for a 40-day supply of insulin increased from $344 to $666 in just four years. Between 2012-2016, the cost of an insulin prescription in New York nearly doubled to ~$690. Schumer said that patients and payers incur over $15 billion a year in direct medical expenses from diabetes in New York, and another $6 billion in costs due to lost productivity.

Because of these extreme fluctuations and high costs, Schumer explained that some studies estimate that as many as 1 in 4 Americans now ration the drug, which is potentially life threatening. In New York, Black adults with diabetes are almost twice as likely to die than their white or Hispanic counterparts. Diabetes is the eighth leading cause of death in the United States.

Overall numbers from the American Diabetes Association:

  • Prevalence: In 2019, 37.3 million Americans, or 11.3% of the population, had diabetes.
  • Nearly 1.9 million Americans have type 1 diabetes, including about 244,000 children and adolescents
  • Diagnosed and undiagnosed: Of the 37.3 million adults with diabetes, 28.7 million were diagnosed, and 8.5 million were undiagnosed.
  • Prevalence in seniors: The percentage of Americans age 65 and older remains high, at 29.2%, or 15.9 million seniors (diagnosed and undiagnosed).
  • New cases: 1.4 million Americans are diagnosed with diabetes every year.
  • Prediabetes: In 2019, 96 million Americans age 18 and older had prediabetes.