Article by Rachel Nania, AARP
“President Trump and the contenders seeking to replace him in the White House have all pledged to lower prescription drug prices. But one medication, in particular, is taking center stage in the race for office: insulin.
Even though insulin has been around for almost a century, the cost of the diabetes drug has skyrocketed in recent years, nearly tripling between 2002 and 2013, according to a study from the American Diabetes Association. And Medicare Part D spending on insulin jumped 840 percent between 2007 and 2017, from $1.4 billion to $13.3 billion, “far outpacing growth in the number of beneficiaries using insulin therapy,” a Kaiser Family Foundation analysis states.
All totaled, Americans with diabetes, the majority of whom are older adults, face insulin prices that average more than $5,000 per year, some reports show. And these high prices have led a growing number of patients who rely on the lifesaving drug to resort to rationing or skipping doses because they can’t afford the medication.”