New act championed by Warnock takes effect, marks $35 cap on insulin copays for Medicare

For the first time beginning this year, Medicare beneficiaries will see their insulin out-of-pocket prices capped at $35 per month. The change is part of the Inflation Reduction Act, championed by Democratic Sen. Raphael Warnock. 

Around 7 million Americans need insulin medication to manage their diabetes. Without it, they are at risk for severe health complications.

And the cost of insulin has risen dramatically in the United States. Even with health insurance, many diabetics pay hundreds of dollars monthly for the lifesaving drug.