The Inflation Reduction Act of 2022 capped insulin copays at $35 per month for Medicare Part D beneficiaries, effective January 2023.
A 2022 RAND Corporation study found the average list price of insulin in the United States was about $98 per unit in 2018, compared with $7.52 in the United Kingdom and $12 in Canada.
In 2023, the three largest insulin manufacturers — Eli Lilly, Novo Nordisk, and Sanofi — voluntarily announced reductions to list prices and out-of-pocket caps of $35 for many patients.
The Centers for Disease Control and Prevention estimates that 8.4 million Americans use insulin to manage diabetes.
Legislation to extend the $35 insulin cap to all patients with private insurance has been introduced in Congress multiple times but has not passed both chambers.