NASHVILLE, Tenn. — Lawmakers want to put measures in place so that no Tennessean pays more than $100 a month for life-saving insulin.
Rep. Matthew Hill (R-Jonesborough) and Rep. Jason Hodges (D-Clarksville) discussed HB1931/SB1939 on Tuesday.
“No Tennessean with diabetes has to choose between insulin and their groceries,” Rep. Hill said. “Diabetes doesn’t ask what political party you are.”
More than 1.4 million Tennesseans are affected by diabetes, lawmakers said.
While insulin has been around for 100 years and provided life-saving medication for those with diabetes, the cost to the consumer has tripled in the past 10 years.
Lawmakers said it only costs between $2.28 and $3.42 to manufacture insulin - yet the average national monthly price for someone with diabetes is $475.
This new bill takes aim at that price, capping the entire costs, whether someone is insured or not, at $100.
Lawmakers said the U.S. uses 15% of the world's insulin supply - but pharmacy companies make a profit of 50% in our country.
"That’s just price gouging our citizens...we won’t stand for them price gouging our citizens because they know we need these life-save drugs," Hodges said.
The bi-partisan measure is also sponsored by Sen. Richard Briggs, (R-Knoxville).
"As introduced, caps the total amount that a health insurance carrier can require a covered patient with diabetes to pay for a 30-day supply of insulin at no more than $100; caps the total price that a person who supplies prescription insulin drugs into or within this state for use by a patient with diabetes can charge for a 30-day supply of insulin at no more than $100."
The bill's next step in the Tennessee Legislature is the Life & Health Insurance Subcommittee.