The Affordable Insulin Now Act would the cap monthly insulin copay to $35 for Part D, Medicare Advantage, and commercial plans. The policy has previously been supported by Democrats and Republicans and has already been instituted in over a dozen states. Majority Leader Schumer announced that Sen. Warnock’s bill will be a priority in the coming weeks. While this was a provision in the Build Back Better Act, Warnock’s bill would go into effect October 1 for Medicare and at the beginning of next year for commercial plans. To read the full bill, click here.
The vote (2-2) came after pharmacy owners complained about how PBM practices are impacting store margins and consumers. FTC Commissioner Christine Wilson voted against the study, saying that she has “observed previously that stakeholders frequently attempt to co-opt the government in their battle against rivals. I am wary of having the FTC used as a pawn to boost the profitability of certain sectors or insulate them from competition.” To watch the full hearing, click here.