This morning, the Assembly Financial Institutions and Insurance Committee will hear testimony on three bills relating to the cost of insulin: A653, A954, and A1669.
All three bills call for a cap on the co-pay amount an insured person is required to pay for insulin: a max of $100 per 30-day supply, regardless of the type of insulin prescribed. In addition, A954 requires the Division of Consumer Affairs to investigate insulin prices offered to NJ consumers to determine whether additional consumer protections are needed.
For diabetics who rely on life-saving insulin, this comes as great news–especially since it’s expected the Committee will amend the bills today to align with S526 (the companion bill to A1669), with an amendment that lowered the cap amount to just $50 per 30-day supply. S526 was released on January 27th from the Senate Commerce Committee, and now awaits further action in the Senate Budget and Appropriations Committee.