Gov. Pritzker signs law lowering cap on insulin prices in Illinois
Illinois Gov. J.B. Pritzker has approved a new measure that lowers the cap on insulin costs.
The law, which was signed by the governor on Friday, creates the Access to Affordable Insulin Act, which requires that manufacturers make insulin available to eligible individuals with an urgent need and those seeking affordable medication.
According to the measure, an insurer that provides coverage for prescription insulin under a health coverage plan shall limit the total amount an insured individual is required to pay to $35 for a 30-day supply.
Illinois Sen. Laura Murphy, who championed the legislation, said in a news release that "medication like insulin must be affordable for every individual who needs it."
“I am proud that Illinois has taken this important step, which will ensure that no one will need to ration or put off purchasing insulin when they need it," she added.
Insulin costs in the U.S. are especially high compared to elsewhere. In 2018, the average list price for one vial of insulin in the U.S. was $98.70, which was about 10 times higher than most other countries, according to the public policy think tank the Rand Corporation.
The law also creates an insulin discount program, which will be established by the Department of Central Management Services. The program is slated to begin on July 1, 2025.
Pritzker signed similar insulin price legislation in 2020. That law capped out-of-pocket insulin costs at $100 for a 30-day supply.