Trump Touts New Insulin Price Cap But Experts Say The Tweak Is Modest And Helps Only Small Subset
President Donald Trump announced a policy change that would mean Medicare recipients who pick a drug plan offering the new insulin benefit would pay a maximum of $35 a month starting next year. The roll out, though, left drug pricing reform advocates disappointed and experts scratching their heads.
Stat:
Trump Claims Credit For Lowering Drug Prices Based On A Small Change
President Trump used a glitzy Rose Garden address, flanked by pharmaceutical company CEOs and patient advocates, to boast of his administration’s successes lowering drug prices and to detract from his political rivals’ efforts on the same issue. But the news he was touting was modest at best: Drug makers agreed to participate in a minor, voluntary Medicare program that will likely only provide a limited discount on insulin for a small subset of the 60 million seniors with Medicare coverage. (Florko, 5/26)
The Associated Press:
Trump Announces Deal To Reduce Insulin Prices For Seniors
Many Medicare recipients could pay less for insulin next year under a deal President Donald Trump announced Tuesday in a pivot to pocketbook issues important in November’s election. “I hope the seniors are going to remember it,” Trump said at a Rose Garden ceremony, joined by executives from insurance and drug companies, along with seniors and advocates for people with diabetes. The deal comes as Trump tries to woo older voters critical to his reelection prospects. (5/26)
NPR:
Trump Unveils Plan To Cap Insulin Costs For Seniors
The new options for reducing insulin costs are the result of an agreement reached by the Trump administration with insulin manufacturers and major insurance companies. "This is a big day for seniors," President Trump said in a Rose Garden speech where he took the opportunity to take several direct swings at Biden over health care issues. (Rascoe, 5/26)
Modern Healthcare:
CMS: Over 1,750 Drug Plans Apply To Cap Seniors' Insulin Costs
The model has broad support from the insurance industry because pharmaceutical companies will pay larger discounts under the demonstration, which would lower costs for plans. When CMS announced the model, the agency estimated it would save the federal government more than $250 million over five years. "Companies already provide deep discounts and rebates on insulin — often in excess of the net revenues retained by the manufacturer — but Part D plans and PBMs are not sharing those savings directly with patients, whose out-of-pocket costs continue to soar," said Stephen J. Ubl, president and CEO of the Pharmaceutical Research and Manufacturers of America, a trade group representing drugmakers. (Brady, 5/26)
CNN:
Donald Trump Appeals To Seniors With $35 Insulin Price Cap Plan
The message came amid a coronavirus pandemic that has most directly affected older Americans. Trump's support among older voters has softened during the outbreak, worrying some of his advisers and leading to renewed efforts at the White House to highlight support for senior citizens. The announcement on Tuesday fit within that. Trump said most senior Medicare recipients will be able to get prescription plans that cap copay costs for insulin, allowing them access to various types of insulins at no more than a copay of $35 for a month's supply. (Liptak, Kelly and Howard, 5/26)
USA Today:
Trump Ponders Taking Insulin Despite Not Being Diabetic
President Donald Trump pondered on Tuesday whether he should be taking insulin, a hormone typically prescribed to diabetics, during an announcement for a plan which would aim to drastically reduce the price of insulin for people on Medicare. "I don't use insulin," Trump said. "Should I be? Huh? I never thought about it. But I know a lot of people are very badly affected, right? Unbelievable." (Behrmann, 5/26)
