Proposal aims to cap insulin prices in Tennessee

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Posted at 6:28 AM, Apr 06, 2021
and last updated 2021-04-06 08:00:11-04

NASHVILLE, Tenn. (WTVF) — Tennessee lawmakers will discuss a bill that would cap the price of insulin for Tennesseans.

The bill is being heard by the Senate Commerce and Labor Committee on Tuesday, and if passed, it would take effect July 1.

According to the Tennessee Diabetes Action Report from February 2019, more than 650,000 people in the state are diagnosed with diabetes, and an additional estimated 250,000 are undiagnosed.

If this bill were to pass, here is what we could see:

  • It would require a health insurance carrier, who provides coverage of insulin, to cap how much patients will pay.
  • It would be no more than $100 for a 30-day supply.
  • It doesn’t matter how much insulin, the type or number of prescriptions it takes for that 30 days. Simply about $100 a month.

To give you a better perspective on how much money this really adds up to for individuals, Forbes has reported newer versions of insulin can run from $175 to $300 a vial. That report says most people require one to two vials per-month.