People with diabetes won't pay more than $100 a month out of pocket for the drug under a new law.
Beginning in January, Colorado residents who have diabetes won’t pay more than $100 a month out of pocket for insulin. Gov. Jared Polis on Wednesday signed legislation setting a cap on the medication’s costs, making Colorado the first such state to do so.
“Today we will finally declare that the days of insulin price-gouging are over in Colorado,” Polis said at a signing ceremony covered by CBS Denver. Insulin has become a prime example of runaway drug prices in the United States. Colorado legislators laid out the problem in the text of the bill, stating that insulin prices have increased 555% in the last 14 years, even with inflation taken into account.
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Colorado is the first state to cap skyrocketing insulin co-paysColorado Gov. Jared Polis signed a bill into law that places a $100 per month cap on insulin co-pays, regardless of how much insulin a patient uses. Insurance companies will pay anything more than the $100 co-pay, according to the new law.
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