Governor JB Pritzker of Illinois states, “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. 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.”

Senate Bill 667 was signed into law on Friday, January 24 that will cap out of pocket insulin costs at $100 for a 30-day supply.

Diabetes affects approximately 1,300,000 adults in Illinois, according to Governor JB Pritzker’s office. 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.

The majority of the law’s provisions go into effect in January 2021; provisions requiring an insulin pricing report take effect immediately.

Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.

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Source: NBC15

Posted 3:00 PM

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