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April 13, 2023
Gov. Murphy, lawmakers announce plans to limit cost of life-saving drugs in New Jersey
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Governor Phil Murphy (D-NJ) announced on Monday that New Jersey plans on capping prices on insulin, asthma inhalers, and other devices like EpiPens (New Jersey Monitor).
Murphy said at the Willingboro Township Senior Center, “With these efforts, we will join the growing number of states that are saying ‘enough is enough’ when it comes to rising drug costs by taking a long look under the hood of the entire process and then fixing what needs to be fixed.”
The governor outlined a proposal that would place a maximum limit on out-of-pocket expenses for New Jersey residents that are enrolled in state-regulated health plans or certain public-sector insurance programs. This plan would cap a month’s supply of insulin at $35, an EpiPen would be no more than $25, and an asthma inhaler would cost no more than $50.
State Senator Troy Singleton (D-Burlington) said, “In the richest nation in the world, and one of the richest states in that nation, we should never have this Hobson’s choice of choosing between our medicine and our food or our rent or any of our expenses. No one should go to the poorhouse because they got sick, and it’s our obligation as policymakers to do something about it.”
However, the New Jersey Association of Health plans has estimated that less than 20% of residents are enrolled in a state-regulated plan. Additionally, employers with self-insured plans will also not be affected by the price controls.
Murphy has called for greater scrutiny for pharmacy benefit managers in a separate proposal. He has pledged his administration would attempt to prohibit practices that move to increase drug prices.
ARTICLE: JILLIAN WEIDNER
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: NJBIZ.COM
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I was born and raised in Omaha, NE before moving to Sioux Falls, SD to attend college at Augustana University. This past May I graduated from Augustana with a Bachelor of Arts in Spanish and Biology with an emphasis in Allied Health. I first discovered FBA through my involvement with Turning Point USA where I worked as a Campus Coordinator in college. I have a passion for politics and activism, and was drawn to FBA’s dedication to spreading the truth. Unbiased news is rare in today’s society, so I wanted to be a part of FBA’s mission to change that.
