Governor Kathy Hochul signed legislation that will reduce the sky-high costs of epinephrine auto-injector ("EpiPen") devices for consumers with commercial health insurance and expand access to critical health care resources for individuals with allergies.
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The legislation will require health insurers to cover EpiPens and caps the amount consumers will be required to pay out-of-pocket at $100, making the life-saving treatment more affordable for the New Yorkers who need it.
EpiPen devices are used to treat life-threatening allergic reactions in individuals who are at risk or have a history of anaphylaxis, which can be caused by insect bites or stings, foods, medications, environmental exposures, exercise and other unknown causes.
The cost of EpiPen devices has far outpaced the rate of inflation, with some reports citing a 600% increase in price since the medication was first acquired by Mylan in 2007.
While EpiPens once cost $60 per device, they can now sell for upwards of $600 for a pack of two pens.
Epi-Pens have a relatively short shelf-life, expiring after 12 months on average, requiring those in need to purchase the medication repeatedly.
Adding to their expense, users of Epi-Pens are also advised to carry two devices at all times, as a single dose of epinephrine may not be enough to treat a serious allergic reaction. Acquiring the devices requires a prescription from a healthcare provider.
Due to the rising costs, many who are prescribed the auto-injectors, try to stretch out their supply by going beyond expiration dates or delaying picking up their prescriptions.
Legislation S.7114-A/A.6425-A will dramatically reduce the cost of these devices for consumers by requiring health insurers in the individual and group markets, including non-profit insurers and HMOs, to cover medically necessary EpiPens for the emergency treatment of allergic reactions and cap out-of-pocket costs for such coverage at $100 per year. ■
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