Oregon lawmakers limit insulin costs, prohibit increases; governor signs bill

Eric Tegethoff, Oregon News Service

SALEM, Ore. (KTVZ) -- Oregon lawmakers during the 2024 session took another step to further limit the price of insulin.

Gov. Tina Kotek has signed a bill into law to cap out-of-pocket insulin prices at $35 per month.

Andrea Meyer, director of government relations for AARP Oregon, said in 2019, the Legislature capped prices at $75 per month but allowed for cost-of-living increases. She noted the current cost cap is about $85.

"This past legislative session, the Oregon Legislature updated that law and now most Oregon residents with diabetes will see lower out-of-pocket costs for insulin next year," Meyer pointed out. "There will be no cost of living increase."

Meyer added the new price is now set in stone. It goes into effect Jan. 1, 2025.

Diabetes affects a wide swath of Americans, about 38 million. It is also the eighth leading cause of death. Meyer stressed access to insulin affects how people treat the disease.

"For far too many Oregonians, high prices of insulin have forced them to ration their insulin or even go without, which can lead to deadly consequences," Meyer emphasized. "Reducing this drug to no more than $35 a month will make this lifesaving drug more affordable and accessible to most Oregonians."

Currently, 26 states and Washington, D.C., have capped insulin prices.