Bill Overview
Title: Insulin Savings for Patients Act
Description: This bill requires 100% of negotiated price concessions for covered insulin products under the Medicare prescription drug benefit to be reflected at the point of sale by 2024. The Government Accountability Office must annually report on the effects of the bill's implementation, including with respect to insulin prices.
Sponsors: Rep. Burgess, Michael C. [R-TX-26]
Target Audience
Population: People who use insulin for diabetes management
Estimated Size: 21000000
- The bill focuses on insulin products, which are used by individuals with diabetes.
- Globally, about 537 million adults (20-79 years) are living with diabetes, and many of them require insulin for management.
- A significant portion of the diabetic population will be impacted by changes in insulin pricing, although not all of them might be directly affected by Medicare regulations.
- The bill targets the US Medicare system, which primarily covers seniors aged 65 and over, a demographic heavily affected by diabetes.
Reasoning
- The target population is primarily insulin-dependent diabetics who are Medicare beneficiaries.
- The policy will alleviate financial burdens for insulin users within Medicare, potentially increasing their quality of life and well-being.
- Variability is expected across individuals due to differences in economic status, health conditions, and reliance on insulin costs.
- The policy budget needs to consider both immediate and long-term effects, fitting it within the limits while maximizing impact.
- Though aimed at cost savings at point of sale, broader impacts might include reduced stress, improved medication adherence, and potentially better health outcomes.
Simulated Interviews
retired nurse (Florida)
Age: 70 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 8/20
Statement of Opinion:
- This policy will significantly cut down my monthly insulin expenses.
- I hope it will make more insulin brands affordable.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 9 | 6 |
| Year 5 | 9 | 5 |
| Year 10 | 10 | 5 |
| Year 20 | 9 | 4 |
retired engineer (Texas)
Age: 75 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- I've been ignoring new insulin options due to cost, this might change now.
- Expecting slightly better financial stability.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 4 |
| Year 5 | 7 | 4 |
| Year 10 | 8 | 4 |
| Year 20 | 7 | 3 |
part-time accountant (California)
Age: 65 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 15.0 years
Commonness: 6/20
Statement of Opinion:
- I'm hopefully this will help reduce my out-of-pocket costs.
- The yearly insulin expense has been a significant part of my budget.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 7 |
| Year 2 | 9 | 6 |
| Year 3 | 10 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 5 |
| Year 20 | 9 | 5 |
retired teacher (Ohio)
Age: 68 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- I hope more savings on insulin costs help me afford other necessities.
- It feels great to see policy changes for seniors.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 8 | 4 |
retired librarian (New York)
Age: 72 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 20.0 years
Commonness: 5/20
Statement of Opinion:
- This policy is a big relief for monthly medication bills.
- Health outcomes might also improve due to regular insulin access.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 5 |
| Year 2 | 9 | 5 |
| Year 3 | 9 | 5 |
| Year 5 | 9 | 4 |
| Year 10 | 9 | 4 |
| Year 20 | 8 | 3 |
retired farmer (Alabama)
Age: 79 | Gender: male
Wellbeing Before Policy: 4
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- Expecting significant financial relief, though not enough to handle other medical expenses.
- This might enable me to afford better retirement living conditions.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 4 |
| Year 2 | 7 | 4 |
| Year 3 | 7 | 4 |
| Year 5 | 7 | 3 |
| Year 10 | 6 | 3 |
| Year 20 | 5 | 2 |
retired teacher (Illinois)
Age: 67 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 20.0 years
Commonness: 6/20
Statement of Opinion:
- The policy sounds promising, but I already manage okay with my expenses.
- I'm curious about its broader social impacts.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 8 |
| Year 2 | 9 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 6 |
retired artist (Oregon)
Age: 74 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 3/20
Statement of Opinion:
- This is a welcome financial break on my insulin and makes life a bit easier.
- I'm skeptical about how well this will be implemented initially.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 6 |
| Year 2 | 8 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 4 |
| Year 10 | 9 | 4 |
| Year 20 | 9 | 3 |
retired auto worker (Michigan)
Age: 66 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- It will be a blessing if this reduces our overall medication costs.
- Hopefully, continuous savings will help us optimize other medical options.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 5 |
| Year 2 | 8 | 5 |
| Year 3 | 8 | 4 |
| Year 5 | 8 | 4 |
| Year 10 | 7 | 4 |
| Year 20 | 7 | 3 |
retired postal worker (Arizona)
Age: 69 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 20.0 years
Commonness: 5/20
Statement of Opinion:
- Costs of insulin have been a big burden, hoping this policy significantly reduces them.
- It's been challenging to keep up with medication alongside other bills.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 4 |
| Year 2 | 7 | 4 |
| Year 3 | 8 | 3 |
| Year 5 | 8 | 3 |
| Year 10 | 8 | 3 |
| Year 20 | 7 | 2 |
Cost Estimates
Year 1: $500000000 (Low: $300000000, High: $700000000)
Year 2: $520000000 (Low: $320000000, High: $720000000)
Year 3: $540000000 (Low: $340000000, High: $740000000)
Year 5: $580000000 (Low: $380000000, High: $780000000)
Year 10: $650000000 (Low: $450000000, High: $850000000)
Year 100: $1000000000 (Low: $800000000, High: $1200000000)
Key Considerations
- The policy aims to reduce out-of-pocket insulin costs for Medicare beneficiaries, promoting better diabetes management.
- Net savings for Medicare could be affected by insurers adjusting to this pricing change.
- Implementation costs and annual reporting requirements create additional administrative expenses for the government.