Congressman Kim Votes to Cap Out-of-Pocket Insulin Prices at $35 Per Month for Americans

WASHINGTON, D.C. – Today,Congressman Andy Kim (NJ-03) voted to cap the out-of-pocket cost of insulin at $35 per monthfor Americans with Medicare Part D or private insurance.

"Every time I talk with families in Burlington and Ocean Counties, a top worry they have is the cost of healthcare," said Congressman Kim. "Too many families in our community are being forced to choose between buying the life-saving medicine they need or a week's worth of groceries. This legislation would significantly drive down the cost of healthcare for millions of Americans, including working families right here in New Jersey. This bill is just the beginning; we need to allow Medicare to negotiate the cost of prescription drugs so even more families have the financial security they need while also staying healthy and whole."

Currently, Americans pay ten times more for insulin than many of our allied countries. This bill would require Medicare and private insurers to cover insulin on their plans, while capping the cost to New Jersey families at no more than $35 per month. Congressman Kim will continue working and voting to bring down the cost of health care and prescription drugs for working families.

"No one should ever have to forego filling a prescription due to cost, but far too many Americans do," saidMauraCollinsgru, Director of Policy and Advocacy at New Jersey Citizen Action. "NJCA applauds Congressman Kim and his House colleagues for taking this first step to ensure diabetes patients have access to life-saving medicines they need by capping what people pay at the pharmacy counter. However, we must not stop here. As supported by representatives like Congressman Kim, we urge Congress to take the next step and allow Medicare to negotiate drug prices and limit future price increases so that all patients can afford the drugs they need."

"Many of our patients can't afford all their medications. Some of them can't afford insulin simply because they have to pay pharmacy prices," said Theresa Berger, Chief Executive Officer of Ocean Health Initiatives, which operates community health centers in Toms River and Brick. "Seniors are having to decide how to ration their insulin: for health or for longevity. That's unacceptable. We're incredibly grateful to Congressman Kim, who is standing up for people who can't afford life-saving medication. This bill would save thousands of lives and help families financially. We couldn't be happier with this bill passing through the House of Representatives."

Congressman Kim has been a champion of reducing healthcare costs while keeping care quality high. In January 2022, he signed a letter to House leadership requesting this $35 per month out-of-pocket cap for insulin. In September 2021, Congressman Kim co-wrote an op-eddiscussing the need to allow Medicare to negotiate down the cost of prescription drugs. And in July 2021, Congressman Kim introduced the Capping Drug Costs for Seniors Act, which would limit prescription drug costs for seniors by, for the first time ever, creating a $2,000 per year out-of-pocket maximum for Americans on Medicare. This legislation passed the House as part of the Build Back Better Act and the Elijah E. Cummings Lower Drug Costs Now Act.

Congressman Kim is a member of the House Armed Services Committee, the House Foreign Affairs Committee, and the House Committee on Small Business. More information about Congressman Kim can be found on his website, kim.house.gov.

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