State Rep. Darren Bailey released the following statement concerning the proposal (SB 667) to cap the insurance co-payments to $100 per month for insulin medication for diabetics:
“The high cost of medications has been a concern for many people for years, including the cost of insulin for diabetics. This specific bill does not fix the over-all cost to families of this life-saving drug because the actual costs can just be shifted to the insurance premium increases and patients still pay the same but at another step in the insurance system.
I co-sponsored the new law (Public Act 101-0452) that establishes guidelines on pharmacy benefit managers (PMBs) who actually negotiate drug prices and benefits on behalf of insurance plans. I promise to continue to work toward finding real solutions. This new law needs an opportunity to take effect before we pass a bill that may sound good but is short-sighted about the other variables in the pricing of medications like insulin.”