The Coalition for Prescription Drug Affordability announced an initiative aimed at addressing the escalating costs of prescription drugs in Illinois.
HB 44-72 will create an independent body called a Prescription Drug Affordability Board with the authority to evaluate high-cost prescription drugs and set reasonable rates for Illinoisans to pay. This bill would make Illinois the 9th state to have such a Board.
Under the proposal, the Board will consider a broad range of economic factors when reviewing high-cost, and brand-name medications that significantly impact Illinoisans.
The Board can propose appropriate payment rates for reviewed drugs, providing pharmaceutical manufacturers with the opportunity to justify existing drug costs. Once a fair payment rate is determined, the Board will set an upper payment limit that applies to the entire supply chain.
By regulating payment rates, the initiative’s supporters hope to have an impact on the broader issue of rising healthcare premium costs. Recent reports indicate that drug costs contribute significantly to rising premium costs, accounting for a staggering 33% of total premium costs.
View the full coalition list and learn more at citizenaction-il.org/pdab.
