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Friday, February 21, 2020

ILLINOIS STATE SENATE DISTRICT 9: Cap on rising insulin costs could save families from bankruptcy

Politics

By Press release submission | Jan 28, 2020

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Illinois State Senate District 9 issued the following announcement on Jan. 24.

Illinoisans with diabetes will pay less for their prescription insulin, thanks to a new law co-sponsored by State Senator Laura Fine (D-Glenview) that seeks to address soaring prescription drug costs.

“The cost of insulin has tripled in the past decade, and wages haven’t followed suit. Prescription drug companies shouldn’t be able to burden families with these sky-high costs,” said Fine, who was the measure’s chief co-sponsor in the Senate. “I’m thrilled to help provide some relief to Illinoisans with diabetes.”

For patients on state-regulated insurance plans, Public Act 101-625 caps the out-of-pocket cost of prescription insulin at $100 for a 30-day supply.

More than 30 million Americans have diabetes, and 7.4 million Americans require prescription insulin every day to survive, according to the American Diabetes Association. However, the price of insulin has risen sharply in recent years, driving many patients to sacrifice other daily needs to pay for insulin or to ration their supply.

The legislation makes Illinois the second state to cap prescription insulin co-payments.

“People with diabetes used to have to choose between paying their bills and paying for insulin,” said Fine. “We’re giving them a little more wiggle room and relieving some of that burden. Hopefully this helps people get their prescription without having to sacrifice other needs.”

Public Act 101-625 was signed into law on Friday and goes into effect Jan. 1, 2021.

Original source can be found here.

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