Insulin: State senate sends bill capping costs to Gov. Kevin Stitt

House Bill 1019 would limit to $30 what people pay for a 30-day supply of insulin and $90 for a 90-day supply.

The measure passed by a vote of 32-15.

Sen. Frank Simpson, R-Springer, said the cost of insulin has increased astronomically.

Many diabetics ration their insulin or go without, putting their health at risk, Simpson said.

“Companies shouldn’t be allowed to profit off of life-sustaining medicines, like insulin,” said Simpson, who lost his granddaughter to complications related to Type I diabetes.

Sen. Greg McCortney, R-Ada, questioned whether the price born by insurance companies would be passed on to others who are insured.

Simpson said it was his hope that insurance companies would put pressure on insulin manufacturers to reduce the cost.

“This is one small step in admitting we have a huge problem,” said Sen. Carri Hicks, D-Oklahoma City, who has a family member that requires insulin. “This will not address 90% of the problem. Every small step can help a lot of families we represent.”

Sen. Rob Standridge, D-Norman, said the problem is that greed has “run amuck.”

McCortney said the bill does not solve the problem.

“This bill does not lower the cost of insulin,” McCortney said. “You are not voting to lower the cost.”

He said the bill is really a cost sharing bill.

The policy should be fixing the problem and not spreading the costs, McCortney said.

Insulin companies are not going to voluntarily lower the cost, he said.

“They are going to charge the same,” he said.

The costs will be passed on to other policy holders, McCortney said.

Simpson said the bill may not solve the problem, but he hoped it would spotlight the problem of broad drug price increases in the country.

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