As the cost of insulin has skyrocketed in recent years, lawmakers at the federal level have taken little meaningful action to help get costs under control — although some potentially helpful measures, such as those capping certain costs or allowing importation from Canada, have been proposed. But in the absence of federal action, some state lawmakers have stepped into the void.
This is true in Illinois, where Governor J.B. Pritzker recently signed a law limiting out-of-pocket costs for insulin, as noted in an article in the Chicago Tribune. It applies to state-regulated commercial insurance plans, not to those regulated at the federal level. Under the new law, the out-of-pocket cost of insulin will be limited to $100, regardless of the amount of insulin people use.
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The new law received bipartisan support among state lawmakers. The law also asks the state’s Department of Insurance to look into the factors behind insulin price surges, and make policy recommendations to lawmakers to help prevent future spikes in the price of the drug.
“Diabetes affects people from all walks of life,” said Pritzker in remarks accompanying the signing of the law. “It doesn’t discriminate between those who can afford medication at unconscionable cost and those who cannot.”
The Illinois law follows one passed in Colorado last year, when that state became the first to cap the price of insulin by law.
Want to learn more about saving money on insulin? Read “Sanofi Offering Insulin at $99 Per Month,” “Half-Price Humalog Insulin Now Available,” “Insulin Prices: Four Ways to Pay Less” and “Cheaper Insulin: Older Insulins May Be Answer to High Prices.”