CHAMPAIGN – Starting Jan. 1, pharmaceutical companies are required to post a notice informing consumers that they may request current pharmacy retail prices at the point of sale, thanks to State Senator Scott Bennett (D-Champaign).

“Drug price transparency plays a key role in reducing the rising prices of prescription medications,” Bennett said. “People have the right to know which payment method – insurance or cash – would provide the most savings when purchasing their prescriptions.”

Under the law, pharmacies would be required to post a notice informing consumers that they may request current pharmacy retail prices. Customers will also be told the retail price of a prescription drug, both in writing and electronically, prior to purchase.

“Under this new law, consumers will finally have access to the pricing information for their medication and have the ability to make an informed decision about where to buy their prescriptions,” Bennett said.

Public Act 102-0400 takes effect Jan. 1, 2022.