Sunday, May 26, 2019

The Insulin Scam

Americans are getting angry about the rising cost of insulin. Many people struggle to get the insulin they need. The price for insulin is much, much higher in the United States than it is just about anywhere else in the world. Insulin prices in the US have been soaring for decades. According to the American Diabetes Association (ADA), the average price of insulin in the US nearly tripled between 2002 and 2013.

The drug is available at every pharmacy, but the cost can be too high to afford for low-income families. 8.8 percent of people, or 28.5 million in total, don't have health insurance – and even with health insurance, the co-pay might be exorbitant.  27 percent  patients surveyed rationed the drug, either by reducing the dosage or taking it less frequently, thus risking their health.

While the average out-of-pocket cost for the insulin brand Humalog is $13.4 USD per milliliter in the US, it is only $3.16 USD/mL in Canada. There are just a very few insulin producers that control the production and that gives them the ability to raise prices, essentially arbitrarily.

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