71ºF

Colorado caps diabetes insulin prices at $100 per month

Starting in January, co-pay costs for insulin will be capped

photo
(Copyright 2019 CNN)

DENVER, Co. – Starting in January, people with diabetes across Colorado no longer have to pay more than $100 a month in co-pays for their insulin.

According to the Denver Post, Colorado is the first state to cap the co-pay price in an effort to combat rising medication costs after Gov. Jared Polis signed a bill into law on Wednesday. 

HB19-1216 also calls on the Department of Law to investigate insulin drug prices, then submit a report of all findings to the Governor, Commissioner of Insurance, as well as the Judiciary Committees of both the Senate and House. 

A report released by the Colorado Health Institute revealed the estimated cost of diabetes in the state will cost roughly $8.3 billion by 2030. The estimation is based on current medical costs with inflation factored in. 

There are approximately 2.4 million people living with diabetes in Florida, and another 1.1 million in Georgia, a 2018 report from the American Diabetes Association shows.