Alabama's high insulin costs are bankrupting people and dragging down the state’s economy. The rising cost of insulin is such an essential topic to many people because in Alabama, almost everyone knows and loves someone who is affected by diabetes, whether it be type one or type two. Diabetes affects children, teens, and adults, and people with type 1 diabetes depend on insulin every day. The unequal distribution of diabetes is caused by several factors, including age, race, socioeconomic level, genetic susceptibility, lifestyle, and underlying medical disorders. This problem is more prevalent in rural areas and low-income communities across Alabama. It is essential to comprehend how diabetes impacts different populations to create effective preventative and treatment plans. We also must consider the accessibility to these treatment plans and see if insulin at its varying prices is affordable for families and individuals afflicted with this disease. Our research shows that the high insulin cost is primarily due to market and government failures. The market failure in the insulin industry can be attributed to the lack of competition. The government's failure is due to Alabama’s unwillingness to expand Medicaid despite the fact that many low-income individuals lack insurance that may reduce the cost of insulin. Through a case study of Alabama’s insulin crisis, I expect to find evidence to demonstrate how high cost of insulin affects vulnerable populations by showing the existing insurance and coverage gaps and how these require governmental action at the state level.
Priced out of Life: Alabama’s Insulin Crisis
Category
Student Abstract Submission