Insulin
Insulin is naturally produced by our pancreas and plays a key role in regulating our blood sugar, a balance that’s vital to maintaining our overall health. People with type 1 diabetes need to take insulin regularly, since they can no longer produce it on their own, while some with type 2 diabetes may have to take it as well.
Despite being available for more than a century, the average price of insulin has surged in recent years. There are many forms of synthetic insulin, which can differ in how fast they begin to affect the body and how long they remain in a person’s system. And companies have lately started to charge much more for the most popular types. People have routinely needed to pay hundreds a month or more for their insulin, and in 2020, Medicare patients collectively spent over $1 billionon insulin. There have been recent reforms to cut down on insulin costs, including a $35 monthly out-of-pocket cap for Medicare patients that was mandated by the Inflation Reduction Act, but the new law doesn’t apply to private insurance patients, nor will it directly lower prices.
