Sixteen states and counting have enacted laws capping the insurance co-pay for insulin. These laws only apply to state regulated insurance plans. They do not apply to federally regulated self-insured plans which includes about 60% of employers.
The President has proposed a national cap $35 and Medicare has a pilot program running.
You can debate why insulin above other life saving drugs is singled out, but once something becomes a political football anything can happen.
Hey, I’m still trying to figure out why birth control needs to be “free.”
Insulin is not on the list of top thirty used prescription drugs.
What many people may not realize is that laws like this add to the cost of their insurance, they increase premiums. Some studies have shown that state mandates add as much as 20% to the cost of insurance.
The bottom line is people paying premiums for insurance – employers, workers and other individuals will pay the cost between the co-pay and the actual cost of the medication. Costs are being shifted, that’s all.