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Colorado Becomes First State to Put Price Cap on the Staggering Costs of Insulin

Colorado Becomes First State to Put Price Cap on the Staggering Costs of Insulin
This trailblazing new piece of legislation will ensure that no Colorado resident will have to pay more than $100 out of pocket for their monthly insulin.

Colorado has just become the first US state to pass legislation that puts a cap on the price of insulin.

Colorado Gov. Jared Polis signed a bill this week that will prevent pharmaceutical companies from charging massive sums of money for the life-saving medication.

Depending on their insurance coverage, diabetic Americans can be charged as much as $1,000 out-of-pocket for a month's supply of insulin.

Now that the HB19-1216 bill has been approved, however, state residents will no longer be forced to pay more than $100 per month for the medication.

With insulin prices increasing by more than 1,000% over the course of the last two decades, the bill also demands the department of law "to investigate the pricing of prescription insulin drugs and submit a report of its findings to the governor" by November 2020.

The price-cap law is set to go into full effect on January 1st, 2020 – but with more than 400,000 Colorado residents living with type 1 and 2 diabetes, the legislation is being hailed as a trailblazing new stance against price-gouging.

(WATCH the news coverage below or our international viewers can check out the footage on the CBS News website)

Treat Your Friends To Some Positivity By Sharing The Good News To Social Media – File photo by Marco Verch, CC

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