California Gov. Gavin Newsom has vetoed a bill aimed at limiting the price of insulin. The bill would have banned health plans and disability insurance policies from charging more than $35 for a 30-day supply of insulin.
The bill would have banned health plans and disability insurance policies from imposing any out-of-pocket expenses on insulin prescription drugs above $35 for a 30-day supply.
The state has a $50 million contract with the nonprofit pharmaceutical company Civica Rx to manufacture the insulin under the brand CalRx.
“With CalRx, we are getting at the underlying cost, which is the true sustainable solution to high-cost pharmaceuticals,” Newsom wrote in a message explaining why he vetoed the bill on Saturday.
“With copay caps however, the long-term costs are still passed down to consumers through higher premiums from health plans.”
“This is a missed opportunity that will force them to wait months or years for relief from the skyrocketing costs of medical care when they could have had it immediately,” Wiener said in a news release.
In January, California Attorney General Rob Bonta sued the companies that make and promote most of the nation’s insulin, accusing them of colluding to illegally increase the price.
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The bill would have banned health plans and disability insurance policies from imposing any out-of-pocket expenses on insulin prescription drugs above $35 for a 30-day supply.
The state has a $50 million contract with the nonprofit pharmaceutical company Civica Rx to manufacture the insulin under the brand CalRx.
“With CalRx, we are getting at the underlying cost, which is the true sustainable solution to high-cost pharmaceuticals,” Newsom wrote in a message explaining why he vetoed the bill on Saturday.
“With copay caps however, the long-term costs are still passed down to consumers through higher premiums from health plans.”
“This is a missed opportunity that will force them to wait months or years for relief from the skyrocketing costs of medical care when they could have had it immediately,” Wiener said in a news release.
In January, California Attorney General Rob Bonta sued the companies that make and promote most of the nation’s insulin, accusing them of colluding to illegally increase the price.
The original article contains 311 words, the summary contains 162 words. Saved 48%. I’m a bot and I’m open source!