LAS VEGAS (KLAS) — Legislation to cap out-of-pocket expenses for insulin at $35 per month was introduced Wednesday in Carson City and advanced quickly by lawmakers.
Democratic Assembly Speaker Steve Yeager presented Assembly Bill 555 (AB555) at a joint committee meeting, and the bill earned bipartisan support in a unanimous vote that advanced it to the Assembly for consideration.
“As Nevadans continue to feel the pinch from the disastrous economic policies at the national level, it is incumbent on us at the state level to find solutions for them,” Yeager said.
AB555 seeks to help tens of thousands of Nevadans who rely on insulin to treat diabetes. Estimates offered during the meeting said as many as 50,000 people, and possibly as high as 70,000, would benefit from the cap, which would apply to private insurance companies that set copays for insured Nevadans.
The bill only applies to private insurers.
Democratic Assembly Speaker Steve Yeager. (Courtesy: Nevada State Legislature)
Republicans in the joint committee asked if the bill would result costs being shifted to other states or result in higher premiums for all health coverage. They also cited comments by President Donald Trump that he intended to do something about prescription costs.
“Not knowing what the federal government’s going to do, this is what we can do as a Legislature right now in this moment,” Yeager said. “And we should get this passed and enacted into law. And if the federal government comes behind us and does something better or more comprehensive, I obviously would be all for that.”
Federal assistance that came through the Inflation Reduction Act lowered costs for diabetes patients who receive Medicare. A $35-per-month cap went into place on Jan. 1, 2023.
Since then, 26 states and the District of Columbia have enacted laws similar to the one introduced at the Nevada Legislature.
The American Diabetes Association estimates that more than 250,000 Nevada adults have been diagnosed with diabetes. Because of the high cost of insulin, some people have rationed doses or stopped taking insulin completely.
