Colorado Caps Insulin Cost

[Skip]

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/lif...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?

[Irving]

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]

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.

[Skip]

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.

[hollohas]

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.

[Gman]

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...

[Irving]

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...

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.

[Great-Kazoo]

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?

[Eric P]

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.

[Bailey Guns]

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.