CHICAGO — Gov. JB Pritzker signed a law that will cap out-of-pocket insulin costs at $100 for a 30-day supply.
Bill SB 667 was signed Friday and is expected to impact about 1.3 million people in the state who have diabetes. A press release sent from Pritzker’s office said the new law is an important step in lowering healthcare costs for Illinois families. Pritzker’s office has previously cited data indicating that insulin brands that sold for $40 in 2001 now sell for $289.
“Health care is a right for all, not a privilege and that is why I am so proud that we created an insulin price cap that successfully puts patients above profit,” the governor said in the release. “As we work to address the high cost of prescription drug prices that are burdening millions all across our state, this new law is an essential step in fulfilling our promise to put state government back on the side of working families.”
Insulin prices have been rising across the country. In some cases, patients who are struggling to pay for their medication will sometimes ration their medicine in order to make it stretch until they can afford another supply. Some may forgo it entirely because they can not afford the cost. Rationing insulin can lead to death.
The law will go in to effect effect in January 2021. Provisions requiring an insulin pricing report take effect immediately, Pritzker’s office said.
For more information on SB 677 visit ilga.gov.