Expands /ensures access to insulin for New Mexicans
SANTA FE - House Bill 292, Prescription Drug Cost Sharing Act, a bold step toward reducing the high prices of prescription drugs, passed the House floor Feb. 14 with a 61-2 vote. By capping costs for insulin to treat Diabetes, this legislation helps New Mexicans afford life-saving treatments. As many as 220,000 New Mexicans suffer from Diabetes and it is the sixth leading cause of death in the state.
House Bill 292 which mandates that insulin be delivered at more affordable prices to all New Mexicans is sponsored by Rep. Micaela Lara Cadena, D-Mesilla, and Rep.Daniel Ivey-Soto, D-Albuquerque.
Soaring insulin prices jeopardize the life of every New Mexican living with Diabetes. Currently, New Mexicans pay between $100 and $500 for a single vial of insulin - an often untenable cost for hard-working families that are scrambling to make ends meet. House Bill 292 dramatically lowers treatment costs, by limiting them to $25 per prescription.
“I am committed to making sure all New Mexicans can afford the medicine they need to survive and thrive. Capping insulin copays is an effort to bring much needed relief to families facing unconscionably high drug prices,” Cadena said.
Medical costs for people with Diabetes are more than twice as high as for people without Diabetes and as prices have steadily risen each year, many diabetics are forced to make tough choices about their medications and supplies, choices that can have lethal consequences. House Bill 292 will make a meaningful difference in the lives of New Mexicans living with Diabetes.
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