PEORIA, Ill. – New state laws to help people’s healthcare costs were signed into law in downtown Peoria on Tuesday.
Governor J.B. Pritzker put his signatures on the Prescription Drug Affordability Act (HB 1697) and the Healthcare Protection Expansion Act (HB 3019) at OSF’s downtown headquarters.
The main target of the bills are Pharmacy Benefit Managers, which act as middlemen between insurers, drug producers, and patients to reduce prescription drug costs. But legislative and state leaders say PBMs have become unaccountable, and act in the best interests of corporations over people.
“For too long, our healthcare system has been infected by profit-seeking middlemen and predatory actors looking to make an extra dime at the expense of Illinois patients,” Pritzker said.
The Prescription Drug Affordability Act aims to hold PBMs accountable by banning “spread pricing,” ending arbitrary drug classifications that limit access and increases costs, and bans guiding consumers to large-scale pharmacies instead of a patient’s preferred pharmacist.
Other measures in the bill include establishing a $25 million grant to support independent pharmacies, and streamlining the Critical Access Pharmacy Program to assist rural pharmacies.
State Sen. Dave Koehler (D-Peoria) was one of the sponsors of the bill, and says it’s an issue he’s been fighting for years.
“I can’t tell you how excited I was when Gov. Pritzker gave his State of the State address, and highlighted as one of his top priorities that we’re going to finally deal with the PBM issue, and that’s the kind of leadership it takes,” Koehler said.
Pritzker took time in his remarks to thank legislators on both sides of the aisle in their efforts to help pass both bills, with numerous legislators pointing out there was one no vote each in the House and Senate.
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