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Please note!
This fact brief was originally published as an experiment to test the concepts behind fact briefs.
Readers should be aware that while there is still a lot of useful information in fact briefs like this one, not all of them reflect Gigafact's current methods and standards for fact briefs. If you come across any that you feel are out of date, don't hesitate to contact us at support@gigafact.org.
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FACT BRIEF

Did the Biden administration make insulin unaffordable?

By Lisa Freedland
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NO

The spike in insulin prices began long before Biden became president. Between 2012 and 2018, the price increased at an average rate of 14% a year.

To combat the continuing price hikes, President Trump issued an executive order in 2020 designed to lower the prices of insulin and epinephrine for low-income individuals.

On his inauguration day, Biden suspended the not-yet-implemented order as part of a regulatory freeze on all "new and pending rules," giving his administration time to review the policies to determine their alignment with his political objectives. The Health and Human Services Department supported this decision, suggesting the order's "limited scope" would have a "minimal economic impact."

Biden's proposed Build Back Better legislation includes measures to make prescription drugs more affordable, allowing Medicare to negotiate drug prices and imposing a tax penalty on pharmaceutical companies for increasing prices faster than inflation.

This fact brief is responsive to conversations such as this one.
Sources
American Action Forum Insulin Cost and Pricing Trends
Federal Register Implementation of Executive Order on Access to Affordable Life-Saving Medications
White House Regulatory Freeze Pending Review
White House President Biden Announces Prescription Drug Pricing Plan in Build Back Better Framework
ABOUT THE CONTRIBUTOR
Gigafact
Between 2020 and 2022, under close editorial supervision, Gigafact contracted a group of freelance writers and editors to test the concepts for fact briefs and provide inputs to our software development process. We call this effort Gigafact Foundry. Over the course of these two years, Gigafact Foundry writers published over 1500 fact briefs in response to claims they found online. Their important work forms the basis of Gigafact formats and editorial guidelines, and is available to the public on Gigafact.org. Readers should be aware that while there is still a lot of relevant information to be found, not all fact briefs produced by Gigafact Foundry reflect Gigafact's current methods and standards for fact briefs. If you come across any that you feel are out of date and need to be looked at with fresh eyes, don't hesitate to contact us at support@gigafact.org.
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About fact briefs published on Gigafact
Fact briefs are short, credibly sourced summaries that offer “yes/no” answers in response to claims found online. They rely on publicly available, often primary source data and documents. Fact briefs are created by contributors to Gigafact —a nonprofit project looking to expand participation in fact-checking and protect the democratic process. See all fact briefs here.