A bipartisan effort to address the escalated price of insulin is underway. The charge is being led by representatives Jeff Fortenberry (R-NE), a Catholic, and Angie Craig (D-MN) with a bill known as Matt’s Act.
Matt’s Act was so named for a Nebraska teen, Matt Regalado, who has Type 1 diabetes. Relying on insulin to manage his condition, he routinely makes trips to the pharmacy for the historically affordable drug. The problem arose when the price of insulin suddenly increased 10-fold between visits.
Along with the dangous possibility that Matt might not be able to acquire his much needed medicine, the increase has also hurt his family's finances. Matt's father, Rod Regalado, described one instance when Matt was hospitalized for his condition. Before he could leave, Rod needed to spend $700 on insulin and other supplies. Rod said he didn't have much of a choice:
Fortenberry commented on his Congressional webpage that the bill is meant to cut the inflated price of insulin by at least two-thirds. They note that a new model for cost effective delivery of the drug is needed. Fortenberry said:
According to a press release, the price of insulin in 2001 was around $30 per vial. Today, the price stands at $330, an increase that Fortenberry notes is 1000% of what it was. This price hike has nothing to do with the chemistry, as nothing has changed within the product. Instead, Fortenberry blames “layers of bureaucracy” that have added “unnecessary costs.”
Fortenberry commented in the press release:
On the other side of the aisle, Fortenberry has been joined by Congresswoman Angie Craig. Craig noted that her constituents in Minnesota have been struggling with the same price hurdles. She said in the press release:
