Illinois governor signs law capping insulin costs at $100 per month
The Illinois governor has signed a new law that will cap out of pocket insulin costs at $100 for a 30-day supply.
Diabetes affects approximately 1,300,000 adults in Illinois. People with Type 1 diabetes and some with Type 2 diabetes need insulin, but price hikes make insulin difficult to afford for the uninsured, and those whose coverage requires significant cost sharing, according to a release from Illinois Gov. JB Pritzker’s Office on Jan. 24.
“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,” according to Gov. JB Pritzker.
“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,” according to the governor.
One in four Type-1 diabetics have reported insulin underdose due to the high cost of insulin,
The majority of the law’s provisions go into effect in January of 2021. Provisions requiring an insulin pricing report take effect immediately.