The law applies regardless of how much insulin a patient needs to fill a prescription, but the price cap applies only to state-regulated commercial insurance plans — not federally regulated plans, the Chicago Tribune reported.
The law was created in response to soaring insulin prices that have forced diabetic patients to take drastic steps, such as rationing their insulin supply.
The law, which gained bipartisan support, also requires the state’s Department of Insurance to determine what caused insulin prices to rise so quickly and to make policy recommendations to guide how to control and prevent overpricing insulin in the future, according to the Chicago Tribune.
Read the full article here.
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