Trump says he brought down the cost of insulin. But that’s not true for all Americans
There’s hardly any transparency about how drug companies arrive at their end price, experts say.
Trump may have been referring to when the Centers for Medicare and Medicaid Services announced a
$35 cap on copays for insulin in May for some Medicare and Medicare Advantage plans. The Trump administration estimated the cap would save seniors $446 on average, and that the manufacturers would endure an added $250 million in costs.
But Anne Swerlick, a senior policy analyst at the Florida Policy Institute, said the insulin cap was mostly just “political theatre,” and barely scratched the surface of the much larger, systemic issue of inflated drug pricing.
There’s hardly any transparency about how drug companies arrive at their end price, experts say.
www.tampabay.com
VERIFYVERIFY: Did President Biden just raise the cost of insulin by freezing a Trump administration rule that would have made insulin less expensive?
Some media, politicians and social media users are claiming President Joe Biden raised the cost of insulin during his first week in the Oval Office.
What we found
On his first day in office, President Biden announced a
Regulatory Freeze Pending Review through a press release sent by his chief of staff Ron Klain. The announcement, sent to all federal agencies, froze all new regulations signed by President Trump during the waning days of his term, impacting new regulations that had not yet gone into effect. The freeze will last 60 days until the new administration can review them.
Some media, politicians and social media users are claiming President Joe Biden raised the cost of insulin during his first week in the Oval Office.
www.wkyc.com
