In an effort to ease price hikes that have left many people with diabetes scrambling to afford their insulin, Colorado governor Jared Polis signed a bill into law Wednesday that limits the amount Colorado residents will pay for insulin at $100 a month.
The state is now the first in the nation to pass such legislation. Under the new law, insurance companies cannot charge patients more than $100 for a 30-day supply of insulin, regardless of the amount or type of insulin they require. Insurance companies will pay any remaining amount over that.
The new law also instructs the Colorado attorney general to investigate insulin drug pricing to ensure there are adequate protections for consumers in place or recommend the protections that are needed.