On May 22, Jared Polis, the governor of Colorado signed a bill to put a price cap on the cost of insulin. According to the American Diabetes Association, about 9% of adults in Colorado have diabetes. This bill will help with the financial burden that come with having diabetes, limiting the co-pay price of insulin for those with private insurance to $100, saving billions of dollars on insulin each year.
The bill went into affect just after the Kentucky Attorney General Andy Beshear sued Eli Lilly, Sanofi and Novo Nordisk, 3 major insulin manufactures. Science Daily states that insulin prices have tripled over the last decade, and insulin costs more money to receive than all other diabetes drugs combined.
Prices of insulin are projected to rise even higher in the near future, and we can only hope that other states will follow in Colorado’s footsteps to make medications more affordable.