Biden Introduced Down Insulin Prices to $15 Per Shot?

On June 27, 2024, U.S. President Joe Biden and former President Donald Trump confronted one another for the first debate of the 2024 presidential election.

Following the primary query, concerning the financial system, Biden claimed that he introduced down the price of a shot of insulin, to $15 from $400. “We introduced down the worth of prescribed drugs, which is a serious difficulty for many individuals, to $15 for an insulin shot, versus $400,” he mentioned (viewable at 4:41 within the video):

We regarded into the declare, and located that whereas it is true that Biden introduced the worth of insulin down, the numbers he cited weren’t right, so we now have rated this declare a “Combination” of fact and falsehood.

Biden signed the Inflation Discount Act into regulation in August 2022, codifying measures that capped the cost of insulin for seniors on Medicare at $35 per month beginning in January 2023. In consequence, many drugmakers — together with Eli Lilly, the most important producer of insulin within the U.S. — lowered their costs accordingly.

In keeping with a 2022 study by the Division of Well being and Human Companies, insulin customers on Medicare paid a median of $449 yearly. Opposite to Biden’s declare, a shot of insulin didn’t value $400 earlier than the Inflation Discount Act.

The Snopes newsroom fact-checked the primary debate of the 2024 presidential election in actual time, accessible here.

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