Insulin price cap signed into law in Colorado

National News
insulin mgn_1558973090148.jpg.jpg

DENVER, Colo. (KXMA) — Wednesday, Colorado became the first state to put a price cap on Insulin for those with private insurance.

Gov. Jared Polis signed a bill into law that caps co-pays for those with private insurance at $100, well under the $600-to-$900 range many were paying per month.

In the last two decades, the price of Insulin skyrocketed more than 700%. 

The medication is manufactured by only three different companies, and the price always jumps at the same time for all three.

The new law also requires Attorney General Phil Wiser to investigate the past price increases of Insulin and the companies that make the medications. 

400,000 Coloradans live with Diabetes.

For the latest breaking news and stories from across the Tri-State, follow Eyewitness News on Facebook and Twitter.

(This story was originally published on May 27, 2019)

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.