During his second State of the Union address, President Joe Biden touted The Affordable Insulin Now Act capping the cost of insulin at $35 per month for seniors, called on Congress to expand Medicare to cover everyone, and to make the Affordable Care Act permanent.
“Let’s finish the job and make (health care) benefits permanent. Let’s expand Medicare for everyone,” Biden said.
According to Biden, drug companies pay between $10 to $13 to manufacture and package insulin. The companies, on average, charged more than $98 per vial. Biden said such markups are common in the American health care industry.
“We pay more for prescription drugs than any nation on the earth,” Biden said.