Schumer unveiling plan to lower insulin costs

Senator Chuck Schumer wants to cut costs for a life-saving drug that more than 62,000 Capital Region residents depend on.

The majority leader was in Albany on Wednesday to unveil his plan to cut the cost of insulin for diabetics.

Schumer took aim at pharmaceutical companies and distributors, saying they’re putting profits before people. He says that’s helping to drive the cost of insulin up 15% to 20% each year.

It now can cost up to $600 a month for each diabetic. At Albany Med on Wednesday, Schumer introduced a measure he’s supporting that would cap the price of insulin.

The bill would mean no one with insurance, Medicare or Medicaid would pay more than $35 per month for the lifesaving drug.

He says the way things are right now, many people can’t afford to take their full dose, which could lead to devastating consequences.

Schumer says there is bipartisan support for the bill. He hopes to get it on the floor of the Senate and up for a vote next month.

DIGITAL EXTRA: Sen. Schumer on lowering insulin costs