Iowa bill would cap insulin prices at $75 a month

DES MOINES, Iowa (Gray Television Iowa Capitol Bureau) - Nearly 250,000 Iowans have diabetes, and for many of them, their insulin cost could soon be much cheaper.

“What is the one thing in your life that you absolutely cannot live without? For me, it’s insulin. Without it, I’m a dying woman,” says Theresa Hildreth of Rockwell City, who has Type 1 diabetes. Hildreth says medical costs for diabetics are very high. “An average diabetic has more than almost $14,000 per year in costs associated with their disease.”

Republican State Senator Carrie Koelker of Dubuque County says she wants to ease that cost. She’s introduced legislation that would create a price cap of $75 a month for Iowans on state-regulated insurance plans.

Paige Yontz with the AARP of Iowa says the bill could impact about 500,000 Iowans. “These are individuals that perhaps on a state-funded or a state-covered plan. So, they might work for the state,” Yontz said.

Yontz says the legislation is needed as Iowa’s population ages. “Diabetes is not getting any less prevalent in Iowa. It’s certainly growing, and as our population continues to age we’re likely to see more people continue to receive those diagnoses,” Yontz said.

Yontz says people who can’t afford their insulin may resort to rationing it. “When someone rations their doses, it has a direct impact on their long-term health. And when you have an impact on things like diabetic foot pain, diabetic eyes, there are a lot of different health implications of failing to comply with this insulin regimen,” Yontz said.

Democratic State Senator Sarah Trone Garriott of West Des Moines says the bill is a helpful step, but she still has questions. “I am interested to learn more about are there other consumers, other Iowans who might not be positively impacted by this bill. you know, are there folks who are underinsured, not insured? Who are those folks that are needing help?” Trone Garriott said.

Koelker says she’s tried to get insulin price caps passed for the past 6 years, and though this new bill may not be perfect, it’ll still help people.

The bill made it out of its committee last week and is now eligible for a debate on the Senate floor.

If you struggle to pay for Insulin, all three major manufacturers have different programs aimed at reducing the cost regardless of income or insurance. You can find more information here. If you’re on Medicare, the Inflation Reduction Act caps the cost at $35 a month.

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Conner Hendricks covers state government and politics for Gray Television-owned stations in Iowa. Email him at conner.hendricks@gray.tv; and follow him on Facebook at Conner Hendricks TV or on X/Twitter @ConnerReports.