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Colorado Becomes First State To Place Cap On Insulin Prices

Sydney Brooman 27 May 2019

It's no secret that the American healthcare system has a few kinks that need to be worked out.

While excelling in the fields of research and treatment innovation, across the board accessibility is still a very prevalent issue for a lot of Americans.

What is the price of survival?

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With the right insurance plan, our health care system can seem relatively easy to access.

However, not everyone can get insurance that covers the medication or treatment that they need, or insurance at all for that matter, especially if they have pre-existing conditions.

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Insulin prices are particularly high these days.

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Depending on their insurance plan, diabetic Americans are being charged as much as $1,000 out of pocket every month for insulin in order to stay alive.

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Prices haven't always been this high.

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Insulin prices have risen over 1,000% in the last twenty years, and those who cannot afford the medication have gone to lengths such as skipping doses or going without it entirely.

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Though a number of states have publicly addressed the issue, Colorado is officially the first to take action.

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Colorado Gov. Jared Polis signed a bill this week that prevents pharmaceutical companies from charging obscene amounts of money for insulin doses.

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The new bill places a cap on how much the medication can cost.

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Bill HB19-1216 prevents residents from paying more than $100 per month for the life-saving medication.

For some Americans, this bill means that the price of their medication will now be a mere 10% of what it was previously. This kind of action changes lives.

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Bill HB19-1216 will also be the catalyst to an investigation into pharmaceutical companies.

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It demands the department of law “to investigate the pricing of prescription insulin drugs and submit a report of its findings to the governor” by November 2020.

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The cap will go into effect on January 1st 2020.

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With more than 400,000 Colorado residents living with type 1 and type 2 diabetes, this legislation is truly groundbreaking for a large number of people.

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But the fight doesn't end here.

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Now that Colorado is leading the way, it is important that other states follow suit to ensure that their residents are able to access the life-saving medication that they need.

Proper treatment shouldn't have to be a luxury.

h/t: Good News Network

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