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Emergency Access to Insulin Act of 2023
12/15/2023, 4:07 PM
Summary of Bill S 1497
The bill proposes several key provisions, including the establishment of an emergency insulin assistance program. This program would provide temporary access to insulin for individuals who are unable to afford it during emergencies, such as when they have lost their insurance coverage or are facing financial hardship.
Additionally, the bill aims to increase transparency in the pricing of insulin by requiring manufacturers to report the costs associated with producing and distributing the medication. This information would be made publicly available to help consumers better understand why insulin prices are increasing. Furthermore, the bill includes measures to improve access to affordable insulin for low-income individuals, such as expanding eligibility for Medicaid coverage of insulin and increasing funding for community health centers that provide diabetes care. Overall, the Emergency Access to Insulin Act of 2023 seeks to address the challenges faced by individuals with diabetes in accessing affordable insulin and ensure that they can receive the medication they need in emergency situations.
Congressional Summary of S 1497
Emergency Access to Insulin Act of 2023
This bill reduces the marketing exclusivity period for biological drug products from 12 to 7 years and establishes policies and programs designed to increase access to prescription insulin.
Specifically, the bill requires the Department of Health and Human Services (HHS) to award grants to states to create insulin card programs, which provide uninsured or underinsured individuals with insulin at no cost for specified time periods. Payments for insulin prescriptions made through the program must count toward an underinsured individual’s health plan deductible or other out-of-pocket expenses required under the plan. Further, HHS must collect annual fees from insulin manufacturers, based on each manufacturer’s market share, equal to the total estimated expenditures under the insulin grants program.
Subject to certain exceptions, the bill also establishes an excise tax on insulin manufacturers when the price of an insulin product spikes. The tax amount is a specified percentage of the revenue a manufacturer received as a result of the price spike. The tax amount increases in tiers based on the percentage of the price spike for that product.
