But you see, they are not capping the price of insulin at all. They are capping co-pays.
That headline is representative of how we talk and think about health care costs – we aren’t sure what we are talking about. Listen to many politicians and you will think health insurance is health care and that insurance premiums are health care costs. That’s not true.
In fact the Colorado legislation is more publicity that serious effort to manage costs. Few people have co-pays near $100, it doesn’t apply effectively to high deductible plans. Actually it only applies to insurance policies in the private market. That leaves out Medicare and most employer plans which are self-insured and excluded from state insurance laws.
These actions are more stunts than effective cost management and they hamper serious efforts.
Diabetics in Colorado who use insulin to control their blood sugar levels won’t pay more than $100 per month for the drug starting in January thanks to a bill signed into law by Gov. Jared Polis on Wednesday.
Rep. Dylan Roberts, D-Avon, told The Denver Post earlier this year that the projections he saw showed the price of health care plans increasing by “a couple of cents, per person, per month.”
That “increasing by a couple of cents, per person, per month.” quote tells us something; few people will benefit from this gimmick.