Price of insulin limited

OLYMPIA — Gov. Jay Inslee signed House Bill 2662 into law last week, capping the price of insulin at $100 for a 30-day supply.

The bill was introduced by Rep. Jacquelin Maycumber, R-Republic.

The measure also creates a task force to investigate why the cost of insulin has risen 500% over the last decate.

“Especially now, with so many families struggling to make ends meet under the governor’s ‘stay home, stay healthy’ orders, families need financial relief wherever they can find it,” Maycumber said of the new law.

“With this legislation, families and individuals who depend on insulin to survive will pay no more than $100 for a 30-day supply.

“This bill allows patients to keep more of their money and provides some measure of certainty about the cost of insulin moving forward.”

The price cap for insulin will be in effect for the next two years while the Total Cost of Insulin Work Group is formed, meets and reports back to the Legislature its findings.

“It’s important people understand that we’re also taking a very hard look at why costs have increased, she said.

“This legislation had to have a short- and long-term component to it.

“Families need relief now, but we also need to know why costs have gone up for U.S. citizens, what our neighbors to the north and south are paying for insulin, and whether or not we’re subsidizing their costs.”