US Inflation Reduction Act sees major savings for insulin users

The US Department of Health and Human Services (HHS) yesterday issued a new report showing the major savings coming to people with Medicare thanks to the $35 cap on a month’s supply of insulin.

According to the report, if the Inflation Reduction Act’s provision capping the cost of insulin at $35 for a month’s supply for Medicare beneficiaries had been in place in 2020, 1.5 million seniors across the country would have saved an average of $500 on insulin for the year. Through the Inflation Reduction Act – the most consequential health care law since the Affordable Care Act – President Biden is delivering on his promise to lower prescription drug costs, make health insurance more affordable, and make the economy work for working families, the HHS noted.]

The price of insulin in the USA, where the average price per unit across all types of insulin was $98.70, has been much criticized and has led to many producers cutting prices sharply.