COLORADO BECOMES FIRST STATE TO CAP COST OF INSULIN

Photo: Daniel Sorabji/AFP/Getty Images

Colorado Governor Jared Polis signed a bill today that caps the out-of-pocket cost of insulin at $100 per month. This new piece of legislation makes Colorado the first state in the U.S to take such a measure. The new law still allows drugmakers to charge as much as they want, but insurance companies are expected to eat most of the cost.

Why this matters: With diabetes cases on the rise, increasing drug costs and the number of individuals who count on the drug it has become an issue for those who depend on the drug, but cannot afford it.

Backstory: Insulin for diabetics has been around for almost a century, but the cost of the dug has doubled since 2012 and can cost up to $1,000 USD under some insurance plans.