Failed TN bill meant to cap insulin prices could impact thousands

NASHVILLE, Tenn. (WTVF) — A bill that would've taken a diabetes insulin price cap a step further has failed in the Senate.

This bill would've capped the total amount that a health insurance carrier can require a covered patient with diabetes to pay for a 30-day supply of insulin at no more than $35.

The bill mirrors the price cap set in 2022 by the federal Inflation Reduction Act, but only helps people enrolled in Medicare.

This state legislation would've gone even further. Under the bill, no Tennessean – with or without health coverage – would've been charged more than $35 for a month’s supply of insulin.

Now, if you're not covered under Medicare, many have to pay full price. In the past, the list price has reached over $400. More recently, it's being sold for around $100-$200.

Candice Haddock, a TSU sophomore, said her dad has struggled with the price of insulin before.

"He wasn't able to get his insulin because it was too expensive and the little bit of insurance that he did have, it just didn't cover it," she explained.

"[His disease] sent him to the hospital...he just had the flu and he was in a coma for five months. All because his insurance didn't cover his insulin," Haddock went on.

"This bill failing will probably lead to many other people who will have to choose between insulin and something else."

"The prices have gone up dramatically over the last 20 years for insulin," said Dr. Alvin Powers, the director of Vanderbilt Diabetes Center and former American Diabetes Association president.

Dr. Powers explained while the price dropped in 2023, largely because of public pressure on companies, the current dollar amount is still a tall ask for struggling families.

"There are like 22 or more states that have passed an insulin cap, so Tennessee is an outlier," he added.

The American Diabetes Association says there are over 760,000 Tennesseans who have diabetes.

"Around 25% of those people take insulin," said Dr. Powers. "That's a lot of people."

Dr. Powers also wants to emphasize there are cheaper kinds of insulin besides the expensive name brands that are available at certain stores.

If you have diabetes and don't even know where to start navigating financial resources, you can call the help hotline at 1-800-342-2383. The American Diabetes Association and a representative can connect you with the right resources and answer any questions you have. You can also check out the ADA's website to learn about ways to lower costs based on your situation.

As for the bill, it's likely dead for this legislative session.