Earlier this week, Colorado became the first state in the USA to cap the monthly price of insulin to just $100.
“Today we will finally declare that the days of insulin price gouging are over in Colorado,” Gov. Jared Polis said before signing the bill on Wednesday.
The law now places a $100 per month cap on insulin co-pays, regardless of how much insulin a patient uses in a given month.
Insurance companies will have to pony up anything more than the $100 co-pay.
The law also puts forth an investigation from the the Colorado attorney general to understand the rising prices of insulin in the state and to make recommendations to the legislature.
The average price of insulin tripled in a decade.
The average cost of insulin went from $4.34 per milliliter in 2002 to $12.92 per milliliter in 2013, according to a study published in the medical journal JAMA in 2016.
The amount of daily insulin taken varies. People with diabetes sometimes need more than one type of insulin to manage their condition.
There is a growing concern among people with diabetes that the cost of insulin will keep rising and become even less affordable.
For people with both type 1 and type 2 diabetes, this can be detrimental, and even lead to death.
What does this bill mean for people with diabetes?
Visibility and truth has always been a struggle within diabetes advocacy.
In 2015, 30.3 million Americans, or 9.4% of the population, had diabetes according to the American Diabetes Association.
Because of the misconceptions and misinformation that come with what diabetes is, it’s not often taken seriously enough.
To me, this bill shows people that diabetes is worthy of paying attention to.
It’s a serious condition no matter the type.
If a life-saving drug like insulin is available, it shouldn’t be out of reach to the people who need it most.
Let’s just hope that other states, and the nation follow suit.
Colorado’s insulin price cap is a large step in solving a massive issue about pharmaceutical accessibility.
This week was a big week for people with diabetes. I hope the topic becomes even bigger.
This is a celebratory moment, but there is more to be done.
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