REP. TIM BURCHETT CALLS FOR INVESTIGATION INTO RISING INSULIN PRICES
Representative Tim Burchett is calling for an investigation into the rising price of insulin. According to a press release, Rep. Burchett asked the Subcommittee on Health of the Committee on Energy and Commerce to investigate rising costs of insulin and other medications.
‘The high cost of prescription drugs places millions of Americans in difficult financial situations. The price of life-saving insulin increased nearly 20 percent each year between 2012 and 2016,” Burchett said.
“Creating a plan to increase access to these life-saving medications is imperative and that is why it is so important to it begins with [investigating] these price increases. I respectfully urge you to begin this process, and I hope we can work together to decrease prescription drug prices,” he added.
Cigna recently announced it will launch a new program to help families pay for insulin. The Patient Assurance Program promises to cap out-of-pocket expenses for a 30-day supply of insulin at $25.
Drug companies have been criticized by advocates for overcharging uninsured insulin patients. Parents have blamed the companies for the deaths of their children, who in some cases had to ration their insulin when they couldn’t afford to pay as much as $1,000 a month for the vital hormone.