View Full Version : Colorado Caps Insulin Cost
Something too expense? Just pass a law! And yes, another "Colorado is first!" achievement.
Colorado law caps cost of insulin at $100 a month
https://www.thedenverchannel.com/lifestyle/health/colorado-law-caps-cost-of-insulin-at-100-a-month
DENVER (AP) ? People with diabetes in Colorado won't have pay more than $100 a month for insulin under a new law.Gov. Jared Polis signed legislation Wednesday that caps insurance co-payments on insulin no matter the type of insulin. A Denver T.V. station reported that the Democrat declared that the days of insulin price gauging are over in Colorado at a ceremony filled with people affected by diabetes.
The bill was sponsored by state Rep. Dylan Roberts, who lose his brother, Murphy, to diabetes.
Nationally the average insulin price nearly tripled from 2002 through 2013, and prices have risen 10% or more a year since then, forcing many diabetics to ration their insulin. Some have ended up in hospitals and a few have died as a result, which has led to congressional hearings on the issue.
So have health insurance premiums the last few years which reflects the overall amount of price gouging payers.
I sincerely hope the state doesn't trigger Venezuelan style economics with this. If so, they'll need a law to force pharma companies to sell it here!
I don't like telling people how to live or think but if you need a drug to survive you're now on notice CO is moving into a place no other state has gone (cost fixing a specific drug). Who knows what the unintended consequences will be?
I'm torn on the issue. Things like insulin probably have a lot of profit built in and are over priced, but I don't know that I like a law capping the price. I think I'd prefer more of a free market solution which allows cheaper alternatives from other markets. I don't buy insulin, but I know people that do (neither are fat), so I'm not sure what other options exist. Maybe our health insurance premiums will go down, probably not.
Bailey Guns
05-24-2019, 12:44
If the .gov can force you to buy health insurance, and the .co can cap prices on insulin, then one or the other or both can force you to buy other things or cap the price on other items. It can't get any further from free market capitalism than that. Sure...it may benefit a few people in the short term. But it's hurting everyone in the long term. Every single person will eventually suffer some negative consequence from policies like this.
Bailey Guns
05-24-2019, 12:49
Insulin is very complicated to produce and that's the main reason it's so expensive. That's also why even "generic" branded insulin is only about 20% less expensive than other insulin, as opposed to most generics being up to 80% less. Demand for insulin is also very high and will likely only get higher. There are about 30 million people with diabetes in the US and maybe as many as 90 million are in the "pre-diabetes" phase.
I'm torn on the issue. Things like insulin probably have a lot of profit built in and are over priced, but I don't know that I like a law capping the price. I think I'd prefer more of a free market solution which allows cheaper alternatives from other markets. I don't buy insulin, but I know people that do (neither are fat), so I'm not sure what other options exist. Maybe our health insurance premiums will go down, probably not.
It feels to me the same as the "pre-existing condition" issue.
It's not good that people had to get a more expensive rider for those conditions to be covered and made their care more expensive. But look at what the ACA did by eliminating the exclusions. Is there a single person who had a rider paying less in 2019 then they did in 2008 (inflation adjusted)? Fat chance! We're all paying substantially more.
I don't know how this cost will be eaten up front: pharmacy, pharma company, health insurer, providers? Ultimately will be all payers and we'll all pay more.
Zundfolge
05-24-2019, 13:27
Leftists don't understand economics.
Price controls create shortages.
Helen Keller could see what's coming: Pharmaceutical companies will simply decline to sell in CO at the artificially low price. Shortages will lead to a black market on "imported" insulin, but it will be unregulated and of questionable origin. Predictably, someone will inject themself with sterile saline(or worse) that was sold to them as insulin, and will die as a result.
Who knows what the unintended consequences will be?
I think this is known, it's just who's willing to admit what they are. If you can choose to legally change your sex, there's no end to what liberals can legislate.
I don't buy insulin, but I know people that do (neither are fat)...
Just....wow.
Many thin people are more unhealthy than fat people, but let's not confuse anybody by breaking from stereotypes.
I'll just put this out there...
http://youtu.be/jn0Ygp7pMbA
Rucker61
05-24-2019, 18:12
Helen Keller could see what's coming: Pharmaceutical companies will simply decline to sell in CO at the artificially low price. Shortages will lead to a black market on "imported" insulin, but it will be unregulated and of questionable origin. Predictably, someone will inject themself with sterile saline(or worse) that was sold to them as insulin, and will die as a result.
And capitalism will be to blame.
Anything to bring on 'single payer' is on the agenda.
Just....wow.
Many thin people are more unhealthy than fat people, but let's not confuse anybody by breaking from stereotypes.
I'll just put this out there...
http://youtu.be/jn0Ygp7pMbA
Why so dramatic? I said that so I didn't have to hear people telling me about how it's their fault for their life choices that they make. Looks like I couldn't dodge that bullet no matter what.
But but Nixon in 73 was the for profit change and the reason health care has ballooned.
Above is satire and running rampant on social the last week
whitewalrus
05-24-2019, 19:09
Gov. Jared Polis signed legislation Wednesday that caps insurance co-payments on insulin no matter the type of insulin.
This will not stop the insulin prices from going up, it will however, raise the insurance premiums for everyone.
Great-Kazoo
05-25-2019, 01:06
I couldn't dodge that bullet no matter what.
we're talking about insulin, not penicillin .
On a serious note. What community will be asking for caps on other drugs?
we're talking about insulin, not penicillin .
On a serious note. What community will be asking for caps on other drugs?
Saw a headline that the FDA approved a $2 million drug.
I haven't read the bill, but in the OP's post you guys are missing the obvious.
that caps insurance co-payments on insulin. That doesn't sound like it price fixes insulin.
You want to know the net effect of this? Pharma jacks prices up because they get guaranteed payment. It's why Pharma bro jacked up the epi pen cost. Insurance is obligated to pay it, they get rich, insurance spreads the cost around everyone, which is part of why we all pay 200 to 300% more for insurance in the last five years. If the quotation is correct, this won't have any effect at all on supply to diabetics, only to our continually skyrocketing premiums. Just wait though, they have a solution for that too. [Sarcasm2]
I haven't read the bill, but in the OP's post you guys are missing the obvious.
. That doesn't sound like it price fixes insulin.
You want to know the net effect of this? Pharma jacks prices up because they get guaranteed payment. It's why Pharma bro jacked up the epi pen cost. Insurance is obligated to pay it, they get rich, insurance spreads the cost around everyone, which is part of why we all pay 200 to 300% more for insurance in the last five years. If the quotation is correct, this won't have any effect at all on supply to diabetics, only to our continually skyrocketing premiums. Just wait though, they have a solution for that too. [Sarcasm2]
Yup, then they'll just pass a law that caps the cost of health insurance!
Once you start down the path of Venezuela economics there is no return because the voters demand more even the point of weekly chicken beak broth rations.
This is why it should be a strong warning to those who need meds because the market will respond, we just won't like how it responds.
I put a chunk of this on George W. Bush. Along with doing away with incandescent light bulbs, he also was party to having all meds 'FDA approved' where a fast-track patent process was created. This meant medications that were generic and used safely for over 100 years were now patented and the cost skyrocketed. (The medication I use was derived from the autumn crocus plant and has been used since 1500 BC). I was buying a generic @ $10 for a 3 month supply. This drug was patented under this new law and it went to $4 per dose. Generics were no longer allowed in the market due to this. There were drug companies setup where have was legal and the other was labs. They could quickly turn around the patents on safe medication and make a mint.
About the same time, the government was taking a greater interest in healthcare. Why would the government want to spend more of our tax dollars on these patented drugs rather than generics? That's an easy question to answer.
Wouldn't surprise me if our politicians were also heavily invested in that enterprise.
hollohas
05-27-2019, 20:27
These things are only expensive BECAUSE of government involvement. They caused the problem and now they have a new law to "fix" the problem.
How much can a person pay for insulin each month? Seems medicine is only expensive when it's for people and doctors, insurance and the government are involved. I buy human insulin for my dog that costs $20 a bottle at Walmart. The vet gave me a Rx, but it's not required apparently, Walmart never took record of it.
It's not always the pharma companies making boatloads of cash.
Most of the time it's the middlemen, regulations, insurance, etc that make things cost so much. Take all that away, and many things become much less expensive.
hollohas
05-27-2019, 20:50
I don't know how this cost will be eaten up front: pharmacy, pharma company, health insurer, providers? Ultimately will be all payers and we'll all pay more.
Exactly. Insurance premiums will go up for all of us...again. Only pay $100 for insulin, but everyone pays an extra $100/month in premiums. Because the insulin is NOT being given away for free once you hit $100. Everyone is still getting paid one way or another.
I haven't read the bill, but in the OP's post you guys are missing the obvious.
. That doesn't sound like it price fixes insulin.
You want to know the net effect of this? Pharma jacks prices up because they get guaranteed payment. It's why Pharma bro jacked up the epi pen cost. Insurance is obligated to pay it, they get rich, insurance spreads the cost around everyone, which is part of why we all pay 200 to 300% more for insurance in the last five years. If the quotation is correct, this won't have any effect at all on supply to diabetics, only to our continually skyrocketing premiums. Just wait though, they have a solution for that too. [Sarcasm2]
Martin Shkrelli, the "pharma bro" didn't have anything to do with the Epi Pen fiasco.
There were, however, some interesting connections between the FDA's disapproval of a competing epi pen-type system, the approval of a cost hike in the actual epi pens, and a certain democratic senator's daughter who happened to work for the company that makes epi pens.
BladesNBarrels
05-28-2019, 11:40
Martin Shkrelli, the "pharma bro" didn't have anything to do with the Epi Pen fiasco.
There were, however, some interesting connections between the FDA's disapproval of a competing epi pen-type system, the approval of a cost hike in the actual epi pens, and a certain democratic senator's daughter who happened to work for the company that makes epi pens.
Didn't there used to be a tv show on PBS that revealed themes like that? Connections or something similar sounding in the title.
[Coffee]
I was scanning the news and came across this little nugget:
Health paradox: New U.S. diabetes cases fall as obesity rises (https://www.msn.com/en-us/health/health-news/health-paradox-new-us-diabetes-cases-fall-as-obesity-rises/ar-AAC2aZu)
NEW YORK — The number of new diabetes cases among U.S. adults keeps falling, even as obesity rates climb, and health officials aren't sure why.
New federal data released Tuesday found the number of new diabetes diagnoses fell to about 1.3 million in 2017, down from 1.7 million in 2009.
Earlier research had spotted a decline, and the new report shows it's been going on for close to a decade. But health officials are not celebrating.
"The bottom line is we don't know for sure what's driving these trends," said the lead author of the new report, Dr. Stephen Benoit of the Centers for Disease Control and Prevention. Among the possibilities: Changes in testing and getting people to improve their health before becoming diabetic.
Like many things in this world, the really 'smart' people already knew the answer, only to find out that they really didn't.
As to rising costs...
https://www.activistpost.com/wp-content/uploads/2017/02/government-problem-solution.jpg
I've known doctors to stop taking insurance and going to a cash business to greatly reduce patient costs. When you cut out all of the reporting requirements, costs drop significantly.
I was scanning the news and came across this little nugget:
Health paradox: New U.S. diabetes cases fall as obesity rises (https://www.msn.com/en-us/health/health-news/health-paradox-new-us-diabetes-cases-fall-as-obesity-rises/ar-AAC2aZu)
New federal data released Tuesday found the number of new diabetes diagnoses fell to about 1.3 million in 2017, down from 1.7 million in 2009.
That is interesting. I wonder if low-carb diets don't explain the delta? I have heard people have reversed their A1C numbers and dropped completely out of the pre-diabetic range just on Keto/Paleo/HFLC alone. I imagine a big part of this is just common sense cutting the crap; processed foods, sodas, etc...
Gov has been lying to people for 50+ years on what our diets should be. Even that 2,000/2,500 RDA label is dead wrong for most Americans.
And natural fats were never the problem, it's the processed carbs!
A major diet change is far better and cheaper than paying for all the diabetes meds.
I've known doctors to stop taking insurance and going to a cash business to greatly reduce patient costs. When you cut out all of the reporting requirements, costs drop significantly.
This is how I lost my PCP after the ACA. He went 100% concierge and I considered subscribing but the dollars didn't make sense for only have PCP services (on top of having to pay for insurance).
He is a brilliant Dr and I'm sure he's doing well.
That is interesting. I wonder if low-carb diets don't explain the delta? I have heard people have reversed their A1C numbers and dropped completely out of the pre-diabetic range just on Keto/Paleo/HFLC alone. I imagine a big part of this is just common sense cutting the crap; processed foods, sodas, etc...
Gov has been lying to people for 50+ years on what our diets should be. Even that 2,000/2,500 RDA label is dead wrong for most Americans.
And natural fats were never the problem, it's the processed carbs!
A major diet change is far better and cheaper than paying for all the diabetes meds.
This is how I lost my PCP after the ACA. He went 100% concierge and I considered subscribing but the dollars didn't make sense for only have PCP services (on top of having to pay for insurance).
He is a brilliant Dr and I'm sure he's doing well.
My PCP quit his private practice (was 2 docs in the office) and went to work for Kaiser citing costs due to ACA.
My PCP quit his private practice (was 2 docs in the office) and went to work for Kaiser citing costs due to ACA.
It may have also been related to patients on Medicare. I know a couple that quit practicing altogether. Some quit private practice because they had to be part of a 'full-service facility' in order to serve their patients on Medicare.
My healthcare friends have said costs could be cut in at least half if the government red top and documentation was eliminated. Just imagine the unneccessary overhead a doctor needs today vs 100 years ago.
Before, an office could get away with a doctor, nurse and receptionist. Now you need multiple book keepers, a lawyers, ect just to make sure you can collect from the government and comply with piles of regulations.
But, that's the problem with federal regulators. I cant tell you have much further road funds could go if you eliminated all the bs regulations and programs imposed by FHWA.
The regs create jobs for irrelevant unnecessary accountants, beauracrats and lawyers to provide no value to the customer being served
My dad just retired at 91, after 62 years of continuous private pediatric practice, in part because of the rising overhead costs.
My PCP quit his private practice (was 2 docs in the office) and went to work for Kaiser citing costs due to ACA.
And since Kaiser is a closed network you pretty much lost your Dr.
You and I must be liars because Obama promised this wouldn't happen!
My healthcare friends have said costs could be cut in at least half if the government red top and documentation was eliminated. Just imagine the unneccessary overhead a doctor needs today vs 100 years ago.
Before, an office could get away with a doctor, nurse and receptionist. Now you need multiple book keepers, a lawyers, ect just to make sure you can collect from the government and comply with piles of regulations.
But, that's the problem with federal regulators. I cant tell you have much further road funds could go if you eliminated all the bs regulations and programs imposed by FHWA.
The regs create jobs for irrelevant unnecessary accountants, beauracrats and lawyers to provide no value to the customer being served
No doubt! But it's the private practices as well. My wife can't even get a straight answer on what a procedure costs from specialists BEFORE WE GO. She'll even try to get the billing codes and the staff won't know which code a Dr will use or the insurance company can't give a straight answer depending on how the code is used.
Capping malpractice/liability to actual damages would help (lost income/earnings). Requiring up front payment would help. Preventing insurers from price fixing with providers would help (single price, how you pay is your business).
And since Kaiser is a closed network you pretty much lost your Dr.
You and I must be liars because Obama promised this wouldn't happen!
No doubt! But it's the private practices as well. My wife can't even get a straight answer on what a procedure costs from specialists BEFORE WE GO. She'll even try to get the billing codes and the staff won't know which code a Dr will use or the insurance company can't give a straight answer depending on how the code is used.
Capping malpractice/liability to actual damages would help (lost income/earnings). Requiring up front payment would help. Preventing insurers from price fixing with providers would help (single price, how you pay is your business).
Luckily, I was able to transfer over to the other doc, but they're not taking new patients unless one leaves or dies.
I have never actually seen the other doc except in passing in the hall once. I always see one of the many PA he staffs.
Powered by vBulletin® Version 4.2.3 Copyright © 2025 vBulletin Solutions, Inc. All rights reserved.