Murphy: Insulin cost cap is only the first step in efforts to curb corporate greed

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Published: Wednesday, December 23, 2020 09:32 AM

03042020CM0991DES PLAINES – To put a stop to price gouging and help more Illinoisans afford life-saving prescription medications, State Senator Laura Murphy (D-Des Plaines) co-sponsored a new law that will cap the out-of-pocket cost of insulin at $100 for a 30-day supply starting Jan. 1, 2021 for patients on state regulated insurance plans.

“No Illinois family should have to go into debt or skip meals to afford life-saving medications,” said Murphy. “I’m glad to see costs lowered for millions of Illinoisans with diabetes, and I look forward to continuing to work with my colleagues in the General Assembly to ensure that affordable prescription drugs are available to all.”

On Jan. 1, Illinois will become the second state in the nation to cap out-of-pocket insulin costs at $100 per month for all patients using a state regulated insurance plan, regardless of the supply they require.

Over 34 million Americans have diabetes, including 1.3 million Illinoisans, who rely on insulin to manage their blood sugar levels. Between 2009 and 2017, the price of insulin nearly tripled, leaving many patients struggling to pay for the drug and at risk of death without it.

The new law also requires the Departments of Insurance, Human Services, and Healthcare and Family Services to jointly issue an "insulin pricing report" to the public that details findings on insulin pricing practices and recommendations to control and prevent overpricing of prescription insulin drugs.

“This law is only the first step in a larger effort to rein in Big Pharma and curb corporate greed,” said Murphy. “It’s past time to put people’s health ahead of financial gain.”

Senate Bill 667, chief sponsored by State Senator Andy Manar (D-Bunker Hill), passed the General Assembly with overwhelming bipartisan support in November 2019 and was signed into law in January 2020.

via Illinois State Senator Laura Murphy

December 24, 2020 at 07:20AM

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