Bill would cap monthly insulin costs in Nebraska to $100
LINCOLN, Neb. (AP) — A bill introduced in the Nebraska Legislature would take a page from some other states and the federal government by capping the monthly cost of insulin in the state.
The bill introduced Friday by state Sen. Tom Briese, of Albion, would cap the insulin costs of those privately insured in Nebraska to $100 per month. Similar caps ranging from $100 a month to as low as $25 a month have been passed in a number of other states, including Connecticut, Colorado and Illinois.
This month, Medicare recipients will see their insulin costs capped at $35 per month as part of the Inflation Reduction Act signed into law last year. The cap is estimated to lower costs for nearly 2 million people on Medicare who currently pay an average of $572 annually out-of-pocket for insulin, according to an analysis by the Kaiser Family Foundation.
Briese’s bill would take effect on the first day of 2024. The bill also states that nothing in the measure would prevent a policy, contract or plan from reducing that cap to an amount less than $100.