Biden Is Right About $35 Insulin Cap but Exaggerates Prior Costs for Medicare Enrollees

The cost of insulin in the US has increased significantly over the years, but recent changes by the government and drug manufacturers have lowered prices. President Joe Biden mentioned in a speech that the average cost had dropped from $400 to $35 a month for Medicare beneficiaries. However, experts suggest that this $400 figure was likely overestimated, with most Medicare enrollees not paying that amount monthly. Prices for insulin varied depending on coverage phase, dosage, and insurance type. The Inflation Reduction Act capped monthly insulin costs at $35 for Medicare enrollees, saving hundreds of dollars yearly. Overall, Biden’s statement rated as Half True.

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