Critics worried Colorado’s new law capping insulin costs would raise insurance rates. It hasn’t.
When Colorado earlier this year became the first state in the country to cap the price that some people will pay for insulin starting next year, skeptics questioned whether the change would raise insurance prices for everybody else.
The answer, according to regulatory filings from insurance companies, is no.
The Colorado Sun reviewed the documents that 21 health plans submitted to the state Division of Insurance to justify their proposed 2020 rates for the individual and small-group markets. Most plans didn’t mention the insulin caps at all as being a factor in their calculations. When they did, they used words like “negligible” and “de minimus.”
“It is expected that the cost sharing caps will have a de minimus impact on rates,” Kaiser Permanente wrote in the filings for its plans.
Insurers do have some concerns about the new law — mostly with how the Division of Insurance has proposed to implement it. And some advocates for people with diabetes warn that it doesn’t reach everyone. In fact, it’s still unclear exactly how many people will benefit.
Read more via The Colorado Sun.
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