BUFFALO, N.Y. — Senator Chuck Schumer (D-NY) was in Western New York Monday to discuss the high costs of drugs and the push to reduce drug prices.
Schumer said he would call for the Senate to vote in March to put a cap on insulin prices, which currently range from $200-$600 per vial to $35.
According to Schumer, the cost of insulin, which is needed to treat those who have diabetes, has increased 15-17% per year since 2012 and one in four Americans are rationing the drug.
“Every single day, millions of Americans and countless people right here in Buffalo with diabetes are being forced to make impossible decisions, paying more and more for their insulin or rationing it so it lasts longer, and this has got to end. No Buffalo family should have to go bankrupt just because they need insulin to survive, and I am here to say that I will call for a Senate vote on capping this cost come March,” said Senator Schumer.
“The current cost of this life-saving drug runs from $300-$600 per vial; it is not just ridiculous it’s dangerous. Millions of Americans and too many Western New Yorkers and Buffalo residents stand with me on this push to cap the cost of insulin at $35 so we can stop rationing this drug, and finally make insulin more affordable and accessible for all Americans.”
“Patients with diabetes spend more than three times as much on health care than people without diabetes. From 2002-2013 the price of insulin tripled, far more than medical inflation for the last 5 years, and out-of-pocket costs for insulin doubled,” said Dr. Steven Lipshultz, A. Conger Goodyear, Professor and Chair of the Department of Pediatrics at UB’s Jacobs School of Medicine.
“These prices particularly impact the uninsured, those who have high co-pay costs, or patients with high-deductible health plans. 24% of diabetic patients say that the cost of their medications is their number one barrier to good blood sugar control since they had to underuse insulin, resulting in rationing or skipping life-saving doses altogether– a dangerous practice. With tight blood sugar control through the use of insulin, patients can avoid life-altering complications. Children with diabetes should not have to choose between filling their insulin prescription and buying school supplies. The need for legislation for affordable insulin is urgently needed since it is a life-saving essential preventive medicine that many people with diabetes (particularly those with type 1 diabetes) should have access to for them to survive, and most patients cannot act as price-sensitive buyers. This robust effort to bring financial relief through legislation represents a significant step forward since capping the out-of-pocket costs of insulin will result in low, predictable out-of-pocket costs, which will likely lead to better health, fewer costs for medical complications, and improved quality of life.”
In New York State, more than 1.7 million people have diabetes. Here is a breakdown from the CDC of how Western New Yorkers are affected by diabetes.
- In Erie County, an estimated 9.4% of adults are diagnosed with diabetes.
- In Niagara County, an estimated 9.9% of adults are diagnosed with diabetes.
- In Cattaraugus County, an estimated 11.4% of adults are diagnosed with diabetes.
- In Chautauqua County, an estimated 10.1% of adults are diagnosed with diabetes.
Schumer's office says the Health Care Cost Institute estimated that the average price for a 40-day supply of insulin increased from $344 to $666 in just four years.