Shaheen and Collins Joint Statement on New Diabetes Data Showing Health Care Costs Continue to Skyrocket
(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) and U.S. Senator Susan Collins (R-ME), Co-Chairs of the U.S. Senate Diabetes Caucus and senior members of the U.S. Senate Appropriations Committee, today responded to new data from the American Diabetes Association that shows the cost of diabetes in America, including the cost of insulin, continues to skyrocket for patients and the federal government.
“Access to insulin is a life-or-death concern for many of the millions of Americans living with diabetes. Today’s report further emphasizes our need to immediately lower skyrocketing costs to ensure this critical medicine is never out of reach for those who need it. With spending on insulin tripling in the past 10 years, it’s time Congress acts. That’s why we introduced the INSULIN Act earlier this year, and we urge our colleagues to work with us to get this bill passed as soon as possible so we reduce the financial burdens placed on those with diabetes and their families,” said U.S. Senators Shaheen and Collins.
According to the report:
- The total annual cost of diabetes in 2022 was $412.9 billion.
- National health care costs attributable to diabetes have increased by $80 billion in the past 10 years—from $227 billion in 2012 to $307 billion in 2022.
- In 2022, it is estimated that 25 million people in the U.S. have diagnosed diabetes, approximately 7.6% of the total U.S. population.
- Spending on insulin tripled in the past 10 years— increasing from $8 billion in 2012 to $22.3 billion in 2022, an increase of 26% in the last five years alone.
- Medication costs—including insulin, non-insulin glucose lowering agents and other prescription drugs—constitute 44 percent of the total direct medical burden for people with diabetes.
- The cost of insulin for Medicare and Medicaid beneficiaries quadrupled in the past decade, from $4.5 billion in 2012 to $18.4 billion in 2022.
As co-chairs of the Senate Diabetes Caucus, Shaheen and Collins have worked together to increase awareness of the threats posed by diabetes, invest in research and improve access to treatment options. Earlier this year, Shaheen and Collins introduced the INSULIN Act, which would comprehensively address the skyrocketing costs of insulin and remove barriers to care making it more accessible to millions of Americans. They recently joined a Washington Post Live event to discuss their efforts to lower the cost of insulin and prescription drugs. Shaheen and Collins have consistently pressed to hold insulin manufacturers, insurers and pharmacy managers accountable for the skyrocketing cost of life-saving insulin.