Lauren Waters
Mr. Nichols
BUSN 2340-101
16 January 2023
Reading Card 1
My article is by Peter Loftus and talks about the new $35 Insulin Cap. [ CITATION
Lof23 \l 1033 ]. This is a new cap that prevents pharmacies from charging Medicare members
more than $35 for a insulin vial. The Inflation Reduction Act is what brought this into effect so
that those who cannot afford insulin can now have the medicine they need and have money to
spend on other necessities. The reason for this act is the increase in insulin over the past twenty
years, it has gone from $34 to $292.07 even with health insurance[ CITATION Lof23 \I 1033 ].
Those who do not have enough money for insulin have been rationing their insulin and even
cutting back on what they spend on groceries. This cap only extends to those covered by
Medicare insurance plans and the beneficiaries will not have to meet their plan deductible to use
this cap. This cap will extend to all types of insulin including injection pens, insulin pumps and
insulin vials[ CITATION Lof23 \l 1033 ].
I believe that this act is one of the few goods things that has happened in American
healthcare in the past couple years because it helps people to be able to afford needed things. The
Inflation Reduction Act will help the elderly and lower income families to afford medicine and
groceries. Insulin is a very common medication because a lot of Americans have diabetes, but it
is also very expensive to buy it every month or even every week. Many elderly patients are on a
limited income, often based off of what they get from retirement plans and social security, and it
is often hard for them to get needed medicine, especially since the Covid-19 pandemic. They no
longer have to worry about the price increase or if they have enough money anymore, they know
it will be a consistent price of $35
Works Cited Loftus, P. (2023, January 11). How the New $35 Cap on Insulin Costs Will Work. Retrieved January 16, 2023, from The Wall Street Journal: https://www.wsj.com/articles/how-the-new-35-cap-on- insulin-costs-will-work-1167339130