Colorado becomes first state to cap out-of-pocket insulin costs

Colorado on Wednesday became the first state in the country to limit how much someone could be required to pay out-of-pocket for insulin.

The Denver Post reports Gov. Jared Polis (D) signed a bill into law that caps co-pays associated with insulin to $100 per month.

{mosads}“Today, we will declare that the days of insulin price gouging are over in Colorado,” Polis said in his office Wednesday as he signed the bill into law.

The cost of insulin in the U.S. has been increasing in recent years, doubling since 2012, the news outlet noted, citing statistics from the Healthcare Cost Institute. People with Type 1 and Type 2 diabetes require the costly drug to control blood sugar levels.

The law does not change or limit what insulin manufacturers can charge insurance companies, instead only capping what patients are required to pay.

The news outlet notes insurers are expected to pay the difference in price.

The law also requires Colorado Attorney General Phil Weiser (D) to begin investigating why the cost of insulin surged in recent years.