The Colorado law will cap monthly co-payments at $100, but doesn't change how much insulin manufacturers can charge.
Colorado Gov. Jared Polis signs multiple bills as, from left, state Sen. Kerry Donovan , Lt. Gov. Dianne Primavera and state Rep. Dylan Roberts look on Friday, May 17, 2019, in Vail, Colo. By Orion Donovan-Smith Orion Donovan-Smith Email Bio Follow May 24 at 4:39 PM A new Colorado law will ensure that those living with diabetes will spend no more than $100 per month on insulin, making it the first state to limit the cost of an increasingly expensive medication millions of Americans rely on.
The bill Gov. Jared Polis signed into law Wednesday will take effect in January 2020, the Denver Post reported, capping monthly co-payments and requiring insurance companies to absorb the additional cost. The law does not limit what insulin manufacturers can charge insurers.The legislation was introduced by State Rep. Dylan Roberts , who lost his younger brother, Murphy, to type 1 diabetes, CBS Denver reported.
“We have been hearing stories and reading disturbing news reports for too long,” DeGette said. “People are skipping doses, failing to pay rent or buy groceries, and even resorting to an insulin ‘black market’ in order to afford their insulin.”The Colorado bill cites a 555 percent rise in the cost of insulin, adjusted for inflation, over the past 14 years.
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