Colorado becomes the first state to limit the costs of insulin at its expense

On Wednesday, Colorado became the first state in the country to limit the amount of insulin that someone might be required to pay.

The Denver Post reports Gov. Jared PolisJared Schutz PolisSchool awards honorary degree to a student killed in a Colorado shootout Colorado State Secretary prohibits employees from traveling to Alabama after the abortion law The Colorado Governor marks the day of teenage died during a shootout at the school PLUS (D) has signed a bill that limits the co-payment associated with insulin to $ 100 a month.

"Today, we are going to declare that gouging of the insulin price is over in Colorado," Polis said in his office Wednesday by signing the bill.

The cost of insulin in the US has increased in recent years and has doubled since 2012, the report said, citing statistics from the Healthcare Cost Institute. People with type 1 and type 2 diabetes need the expensive medication to control their blood sugar.

The law does not change or limit what insulin manufacturers can charge insurance companies, but is limited to capping what patients are required to pay.

Insurers should pay the price difference.

The law also requires Colorado Attorney General Phil Weiser (D) to begin investigating why the cost of insulin has risen in recent years.