Lawmakers should try to address narrow affordability problems where they exist but refrain from soundbite solutions that undermine competition on innovation and price in the long-term.
Insulin prices are falling. So why is Congress holding a hearing on the rising cost of insulin? The Biden administration and likeminded members of Congress think the issue is ripe for political points, even though their purported solutions would cause more harm than good.
The price of insulin, both what insurers pay and what patients pay at the pharmacy counter, is falling by several metrics. Average copayments for patients with Medicare and commercial insurance declined 27 percent from 2018-2021. Overall, copayments for three-quarters of insured insulin prescriptions are already under $35.
Continue reading the entire piece here at National Review Online
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Theo Merkel is a senior fellow at the Manhattan Institute and a senior research fellow at Paragon Health Institute.
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