FOR IMMEDIATE RELEASE

Media Contact
Janel Knight Trulear
janel@emccommunications.com
(617) 875-6581

STATEMENT: Small Business Group Applauds New Cap on Insulin, Pushes for Additional Action to Lower Health Care Costs

Small Business for America’s Future Co-Chair Dr. Erika Gonzalez, CEO, President, & Co-Founder of South Texas Allergy and Asthma Medical Professionals (STAAMP) and STAAMP Clinical Research and Chair, San Antonio Hispanic Chamber of Commerce on the announcement by Eli Lilly that they will cap out-of-pocket costs on insulin at $35 per month.

March 1, 2023- We are pleased with the recent step to address insulin prices in our country, but action should not stop there. 

The high cost of prescription drugs has long created a barrier for small business owners – forcing them to make difficult choices about their physical health and the health of their business, and preventing them from scaling and hiring quality candidates. 

For years, Main Street entrepreneurs voiced their concerns and got results with the passing of the Inflation Reduction Act (IRA), which established a $35 cap on a month’s supply of insulin for Medicare beneficiaries. This policy is incredibly popular with small business owners, with 74% showing support for the law in a 2022 Small Business For America’s Future survey. However, the IRA only provided this certainty for Medicare recipients, leaving others at the mercy of pharmaceutical companies to set their prices. 

After continued pressure, including by small business leaders,  and following the momentum of the IRA, Eli Lilly announced today it would expand the $35 cap on insulin to those who have private insurance and the uninsured. 

While this is a victory that will benefit small businesses across the country, lawmakers should not stop working to address more prescription drug costs and the rising cost of healthcare, so that small business owners and their employees can thrive. 

To request an interview with Small Business for America’s Future Council Member Dr. Erika Gonzalez, contact Janel Knight Trulear at (617) 875-6581 or janel@emccomunications.com.  

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About Small Business for America’s Future
Small Business for America’s Future is a coalition of small business owners and leaders nationwide working to provide small businesses a voice at every level of government. We’re committed to ensuring policymakers prioritize Main Street by advancing a just and equitable economic framework that works for small business owners, their employees and their communities. Visit www.smallbusinessforamericasfuture.org. Follow us on Twitter and Facebook. #SmallBizAF.