WASHINGTON (GRAY DC) – The Biden administration marked a celebration this week in honor of the signing of the Inflation Reduction Act. Yet millions of Americans who rely on essential healthcare feel left out of the festivities.
“This law is for you,” President Joe Biden said on Tuesday from the White House. The president described the Inflation Reduction Act as “the most important legislation enacted in this Congress” and “one of the most significant laws in the history of our nation.”
“But it does not go far enough,” said Aaron Turner-Phifer, health policy director of the Juvenile Diabetes Research Foundation.
According to its website, the JDRF “is the leading global organization funding research into type 1 diabetes.” Turner-Phifer believes the Inflation Reduction Act takes meaningful steps to lower insulin costs but stresses that much more must be done to ensure everyone has access to affordable insulin.
“We also call for immediate passage of the INSULIN Act, which does two important things. It provides out-of-pocket cap protections on both the commercial side and Medicare. It also incentivizes reductions in the list prices so that everyone benefits,” Turner-Phifer said.
The Inflation Reduction Act will cap insulin costs for Medicare patients at $35 per month starting next year. However, the idea of capping insulin for privately insured diabetics, also known as the INSULIN Act, was blocked by Senate Republicans.
Representative Abigail Spanberger (D-Va.), who voted in favor of the bill, said she is disappointed that the broader proposal did not win more support.
“I think this is an important step in demonstrating the value and impact that insulin caps will have, this first step for older adults. And I will certainly keep making sure that insulin is affordable for people of all ages,” Spanberger said.
In the meantime, AARP is excited by the savings the law will deliver to seniors and the organization is now focusing on ensuring the Inflation Reduction Act is implemented properly.
Turner-Phifer notes that the JDRF continues discussions with lawmakers to build broader support for the INSULIN Act because it is a life-or-death matter. The measure previously enjoyed bipartisan backing but fell short by three votes.
