Earlier this week (in the emissary section) we wrote about a project in Oakland where people are figuring out how to produce insulin themselves. The project is a testament to the skyrocketing prices of the lifesaving drug as nearly 7.5 million Americans struggle to cover the costs of insulin to manage diabetes.
In response to these outrageous prices, the governor of Colorado Jared Polis signed a new law that caps co-payments of the lifesaving medication at $100 a month for insured patients, regardless of the supply they require. As a result, insurance companies will have to absorb the balance.
The law also directs the state’s attorney general to launch an investigation into how prescription insulin prices are set throughout the state and make recommendations to the legislature. Being the first state to enact such sweeping legislation aiming to shield patients from dramatic insulin price increases, hopefully Colorado will inspire other states to do the same.
