A new law that will prevent pharmaceutical and insurance companies from continuing to excessively profit from Illinoisans suffering from diabetes takes effect Jan. 1, 2021.
Senate Bill 667, sponsored by State Senator Andy Manar and State Rep. Will Guzzardi, made Illinois the second state in the nation to cap out-of-pocket insulin costs at $100 per month for all patients using a state regulated insurance plan, regardless of the supply they require.
Roughly 1.3 million Illinoisans are living with diabetes and rely on insulin to manage their blood sugar levels. Price increases have left many of them struggling to pay for the drug and at risk of death without it according to Manar. The new law also requires the Departments of Insurance, Human Services, and Healthcare and Family Services to jointly issue an “insulin pricing report” to the public that details findings on insulin pricing practices and recommendations to control and prevent overpricing of prescription insulin drugs.
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