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In the last few weeks, three of the biggest insulin-making companies have cut their prices for insulin. This comes as some companies feel the pressure of the Inflation Reduction Act, which caps insulin at $35 for Medicare beneficiaries.
Ken Einbinder has had diabetes for 60 years. He was diagnosed with diabetes at the age of 10. During that time, he says having diabetes was highly stigmatized, and because of this, he says he didn’t have an easy childhood.
“I had to make up excuses as to why I couldn’t eat candy or ice cream,” Einbinder said. “And that was very tough. Finally, the older I got, I realized that people had to know.”
Eventually, Einbinder came to the realization that he had people who stood by him, regardless. They became pillars of his strength. But, even with this happiness, diabetes has taken a toll on his physical, emotional and financial health.
“The pharmaceutical industry is rife with greed,” Einbinder said.
Recently, Eli Lilly capped the cost of insulin to $35 for seniors. It’s a move President Joe Biden praised after signing a law last year to do just that.
“I was happy for me,” Einbinder said. “But there are so many other types of diabetics younger than me who still have to pay these high prices. And if they can do it for seniors, why can’t they do it for everyone?”
As a result, some have rationed their insulin or food intake to survive.
Einbinder urges people to lobby their representatives to encourage pharma companies to make these medications affordable for all.
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