Gov. Pritzker Signs Law Capping Insulin Costs at $100/Month for 1.3 Million Illinoisans
Gov. JB Pritzker signed SB 667 into law Friday, capping out of pocket insulin costs at $100 for a 30-day supply. The new law is an important step forward in lowering healthcare costs for working families making Illinois a leader in ensuring healthcare is a right, not a privilege. The 1.3 million Illinoisans who rely on insulin will no longer face soaring prescription drug prices that force them to make tough decisions.
“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,” said Governor 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.”
Diabetes affects approximately 1,300,000 adults in Illinois. All people with Type 1 diabetes and some with Type 2 diabetes need insulin, but regular price hikes make insulin difficult to afford for the uninsured and those whose coverage requires significant cost sharing.
Many patients either forego insulin or they ration their prescribed insulin dose to stretch it until they can afford the next prescription. One in four Type 1 diabetics have reported insulin underuse due to the high cost of insulin.
“I’m deeply grateful for the brave individuals and families, some of which are here today, who stepped up and challenged the status quo on behalf of millions of families who share their experience,” said Senator Manar. “Their stories propelled Senate Bill 667 through the legislature with bipartisan support by evoking a shared belief that unites us all — the health and humanity of our neighbors isn’t a tool to be leveraged for exorbitant profit.”
“I’m proud to see SB 667 signed into law today. The outrageous cost of insulin is hurting too many families in Illinois, and this bill will provide some protection for thousands of our neighbors,” said Representative Guzzardi. “It’s a first step toward reining in out-of-control drug costs in our state.”
The majority of the law’s provisions go into effect in January 2021; provisions requiring an insulin pricing report take effect immediately.