The Affordable Insulin Now Act, which took effect on Jan. 1, caps insulin costs at $35 for seniors on Medicare. The U.S. Department of Health and Human Services (HHS) released a report on Jan. 24 outlining “the major savings.”
If the provision, which is part of the Inflation Reduction Act signed into law by President Joe Biden last August, had been in place in 2020, 1.5 million seniors in the United States would have saved an average of $500 on insulin that year, the HHS report indicated.
