The “Inflation Reduction Act” — Which the Congresswoman Voted to Pass Last Year — Caps the Price of Insulin for Seniors Enrolled in Medicare at $35 per Month

WASHINGTON, D.C. — U.S. Representative Abigail Spanberger today shared stories received through her survey to get feedback on how Virginia seniors have been affected by the new cap on out-of-pocket insulin costs and encouraged more seniors to share their experiences.

Signed into law as part of the Inflation Reduction Act — which Spanberger voted to pass last year, the $35 per month cap on out-of-pocket costs for insulin covered under Medicare Part B went into effect on July 1. The monthly cap on insulin cost sharing for insulin covered under Part D went into effect earlier this year on January 1, 2023.

Virginia seniors, caregivers, and loved ones of seniors on insulin can click here to take Spanberger’s brief survey to share their experience.

“Since before I even got to Congress, I’ve been hearing from Virginia seniors and their loved ones about the burden the skyrocketing cost of lifesaving drugs, like insulin, places on some of our most vulnerable neighbors. These Virginians deserve real, tangible solutions to make these medications more accessible,” said Spanberger. “As a lawmaker, I was proud to play a part in getting the Inflation Reduction Act signed into law to create a simple cap on the price charged to seniors for their insulin. And as a Member of Congress serving thousands of seniors who rely on the drug, I want to know whether this change has made an impact in their lives. I hope all Seventh District seniors who have experience with this new cap will take a moment to complete my survey and share their feedback.”

Some of the responses submitted by Virginians so far include:

“I have a friend that asked me to seek financial assistance for medication expenses. Before I could put pen to paper, your assistance brought relief to her. Elders suffer more so than any others. Keep up the great work. Your help is needed beyond comprehension. God bless.” — John Fortune, Spotsylvania County

“I was paying over $100 per bottle for insulin, before this year! Now, I can get nearly 3 bottles for the same price. Thank you so much Rep. Ms. Spanberger. While I realize that you were not the only person responsible for getting this passed, I do thank you for your support!” — Lawrence, Caroline County

“I am a type two diabetic. My insulin costs monthly are running around $50 per month — now I’m only paying $35! Thank you Congresswoman Spanberger!” — George Lewis, Orange County

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An estimated 6,600 Medicare beneficiaries receive insulin in Virginia’s Seventh District. According to the U.S. House Committee on Oversight and Reform, this cap will save a senior in the district enrolled in a standard Medicare drug plan who used Novolog — one of the most commonly-prescribed rapid-acting insulins — more than $1,500 per year.

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