The Prescription Drug Affordability Campaign
WHEREAS, to protect our lives and our well-being, every family in Illinois requires access to affordable prescription drugs;
WHEREAS, skyrocketing costs are making some life-saving medicines virtually inaccessible to our families and neighbors, with nearly one-third of adults reporting not taking their medicines as prescribed due to cost;
WHEREAS, in 2019 drug manufacturers raised the prices of over 3,400 prescription drugs, with price hikes that were five times more than the average rate of inflation;
WHEREAS, prescription drug spending accounted for over 22% of each health insurance premium dollar spent between 2014 and 2016, making it consumers’ single biggest expense on insurance premiums;
WHEREAS, the high cost of prescription drugs leads to barriers for Medicaid enrollees in accessing the medications they need to be healthy;
WHEREAS, to build upon the State’s 2019 legislation capping out-of-pocket insulin costs, Illinois should continue to develop innovative ways to help consumers afford their medications;
THEREFORE, BE IT RESOLVED that the undersigned organization supports creating a new Prescription Drug Affordability Board to determine how best to make prescription drugs more affordable for all Illinoisans, including by: examining the entire drug supply chain, including the role of drug manufacturers and Pharmacy Benefit Managers (PBMs), and establishing payment limits for expensive drugs that create significant affordability problems for Illinoisans, building upon the State’s leading efforts to lower prescription drug and health care costs for all residents.
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