WASHINGTON — Two key senators on Wednesday released a widely anticipated bill aimed at lowering insulin prices and capping monthly copays under commercial and Medicare insurance plans.
The move is the next step in advancing one of Democrats’ most popular provisions from a stalled reconciliation bill ahead of a tough midterm election. In March, the House passed its own standalone version sponsored by Democrats to cap insulin copays.
The bill, sponsored by Senate Diabetes Caucus Co-Chairs Jeanne Shaheen, D-N.H., and Susan Collins, R-Maine, aims to entice drug makers to lower their list prices to 2021 net Medicare rates by blocking pharmacy benefit managers from accepting drug rebates or other discounts. Drug manufacturers and critics allege the discounts, which are often a percentage of the list price, encourage higher prices.
