Fact Check: Trump wrongly alleges Biden didn’t reduce insulin costs
TL/DR –
President Joe Biden has been campaigning on his success in getting seniors with diabetes a $35-per-month cap on their insulin spending. However, former President Donald Trump has countered that Biden has done nothing to lower insulin costs and is taking credit for his own accomplishment. A fact check reveals that while Trump did introduce a $35-per-month cap for some seniors, Biden’s policy expands this to all over 3.4 million-plus insulin users on Medicare and applies to a greater number of insulin products.
President Biden vs. Trump: The Battle over Insulin Pricing Reduction Initiatives
President Joe Biden is promoting his achievement of securing a $35-per-month insulin cap for seniors with diabetes. However, his Republican opponent, former President Donald Trump, argued that Biden has not contributed to reducing insulin costs, asserting this was his accomplishment.
“Low INSULIN PRICING was achieved for millions of Americans by me, and not by Biden. He played no role in it,” Trump stated on social media.
Facts First: Trump’s assertions are incorrect. While Trump did achieve a $35-per-month cap for some seniors through a voluntary program, Biden ensured all insulin users on Medicare received $35-per-month insulin—via a mandatory cap.
While Trump was instrumental in lowering insulin costs, Biden does not solely deserve credit. Nevertheless, Biden’s policy extends beyond Trump’s in numerous ways.
Reacting to CNN’s inquiry about Trump’s insulin cap being “weaker” than Biden’s, a Trump campaign spokesperson did not provide further comment.
Biden’s law was passed by Congress, offering greater security than Trump’s initiative. Moreover, Biden’s plan surpasses Trump’s in four substantial ways.
All insulin users in Medicare Part D are covered by Biden’s $35-per-month cap, whereas Trump’s policy did not. In 2023, Biden’s policy mandated all Medicare Part D prescription drug plans to offer each insulin prescription for no more than $35 per month. Conversely, only 38% of Part D prescription drug plans voluntarily participated in Trump’s Part D Senior Savings Model, according to data provided by Juliette Cubanski, Deputy Director of the Program on Medicare Policy at the health policy organization KFF.
In 2022, before Biden’s policy took effect, over 800,000 people with diabetes in Part D were eligible for $35-or-less insulin via Trump’s program. Regardless, Biden made $35-per-month insulin universal for seniors with diabetes.
Biden’s policy imposes a mandatory $35 monthly cap on insulin taken via a pump, obtained through Medicare Part B. Trump’s program didn’t cover this.
Biden’s policy applies the $35 monthly cap to all insulin products covered by Part D prescription drug plans. Under Trump’s program, even participating drug plans could choose to apply the $35 monthly cap only to specific products of each insulin type.
Under Biden’s policy, no payments are required for prescription drugs, including insulin, once patients reach a high level of annual drug spending known as the “catastrophic” level. Trump’s voluntary insulin program did not offer a cap at this level.
Biden’s Future Plans for Insulin Policy
After the Inflation Reduction Act’s 2022 passage, the three largest insulin manufacturers implemented price caps or savings programs, reducing costs to $35 for many non-Medicare patients.
Biden is proposing to extend the mandatory $35 monthly cap to Americans with private health insurance. In contrast, Trump’s stance on the future of insulin policy is unclear.
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