Gong-Gershowitz Bill Will Cap Insulin Prices, Hold Big Pharma Accountable

SPRINGFIELD, Ill. – As the pharmaceutical industry continues to increase their profits at the expense of families and seniors, state Rep. Jennifer Gong-Gershowitz, D-Glenview, helped to pass legislation to hold big pharma accountable by addressing the price-gouging of insulin.

“As families attempt to budget themselves and seniors try to make ends meet on fixed-incomes, they are often forced to choose between paying their bills and buying their necessary medications,” Gong-Gershowitz said. “Big pharma cannot continue to make record profits at the expense of saddling families and seniors with debt. That is why I supported this critical legislation to hold the industry accountable by reining in the price of insulin.”

In 2017, the American Diabetes Association created a working group dedicated to investigating the scope of the insulin affordability problem. Their investigation found that despite the medication’s discovery about 100 years ago, between 2002 and 2013 the price of insulin nearly tripled. Gong-Gershowitz supported Senate Bill 667, which cracks down on the overpricing of insulin by capping monthly copays to $100. The cap applies to insurance plans that are already in regulation by the state or that are attained through the Affordable Care Act’s marketplace, totaling to about 20% of insurance plans in Illinois. The bill also directs a number of state agencies to collaborate to further investigate insulin pricing and manufacturing practices and provide recommendations on additional steps to prevent price-gouging.

 “Access to affordable healthcare should not be stifled by the greed of private interests,” Gong-Gershowitz said. “This bill is a step in the right direction toward ending price-gouging and I look forward to working on the recommendations the administration makes to increase access to this live-saving medication.”