# The Insulin Savings for Patients Act

This bill is designed to make insulin cheaper for Medicare patients by requiring that discounts negotiated between drug manufacturers and insurance plans actually reach patients at the pharmacy counter. Right now, when insurance companies negotiate lower prices for insulin with drug makers, those savings often don't show up in what patients actually pay out of their own pockets. This bill changes that by forcing a minimum percentage of those negotiated discounts to be passed directly to patients when they fill their prescriptions.

Here's how it works in practice: Starting in 2022, at least 50 percent of any price discounts negotiated for insulin must be given to patients at the point of sale. That percentage increases to 75 percent in 2023 and reaches 100 percent by 2024. So if an insurance company negotiates a $100 discount on an insulin prescription, patients would immediately see at least $50 off in 2022, $75 off in 2023, and the full $100 off by 2024. This applies to Medicare patients using prescription drug plans or Medicare Advantage plans that cover medications.

The bill also requires insurance plans to report how much they're negotiating in insulin discounts, and it directs the Government Accountability Office to study whether these changes actually help patients afford their medications. The government can adjust these percentages in the future if needed, but any changes must still guarantee patients get at least 50 percent of the negotiated savings. For people with diabetes who depend on insulin, this could mean significantly lower costs when they pick up their prescriptions at the pharmacy.

Insulin Savings for Patients Act

Burgess, Michael C.

Insulin Savings for Patients Act This bill requires 100% of negotiated price concessions for covered insulin products under the Medicare prescription drug benefit to be reflected at the point of sale by 2024. The Government Accountability Office must annually report on the effects of the bill's implementation, including with respect to insulin prices.