On April 2, 2022, local time in the United States, the U.S. House of Representatives voted 232 to 193 to pass a bill limiting patients' out-of-pocket insulin costs to $35 per month. This is a major blessing for the millions of diabetic patients in the United States who previously typically spent hundreds of dollars a month on insulin!
According to AFP, the issue of drug pricing has troubled U.S. politicians for years. Among all industrialized nations, the United States has high annual healthcare expenditures, reaching approximately $11,000 per capita. According to reports from Reuters, the current average monthly price for this "life-saving medication"—insulin—is $375, and can be as high as $1,000, causing some patients to skip necessary doses.
During the House debate, Frank Pallone, a Democratic Representative and Chairman of the committee overseeing health policy, said: "No patient should ever have to ration their insulin because they cannot afford it. This puts patients at risk and, in some cases, can even cost them their lives."
The bill would require private health insurance plans to cap the monthly cost of insulin at $35 or 25% of the negotiated price of the plan, whichever is lower. This will take effect for some patients starting in 2023, and will be extended to all patients by 2024. Following the House vote, the bill will be sent to the Senate for consideration. Based on the current situation, Republican lawmakers generally support the bill, and major disagreements are not expected.
Synthetic human insulin has been in use for a century since its invention in 1920. Today, there are 7.4 million adults in the United States using insulin to manage diabetes, and the cost of insulin in the U.S. is eight times higher than in other affluent nations. It is believed that with the advancement of the bill in both chambers, all patients will no longer need to worry about such expenses in the future.
Currently, the reauthorization of the EB-5 Regional Center Program has achieved a significant milestone and will continue in a new form until September 30, 2027, securing a long-term period of policy stability for the EB-5 industry and investors. The bill grants a 60-day window for the new EB-5 Regional Center Program, during which the U.S. Citizenship and Immigration Services (USCIS) and other government agencies will issue relevant implementation policies to facilitate the enactment of the new law. Worldway Immigration will continue to maintain close contact with all parties and actively monitor the latest developments.
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