Laws can and will shield insured Oklahomans from excessive insulin costs: Tulsa World Editorial | Editorials
“Unfortunately, significant price increases by manufacturers have put the burden on those in need of this life-saving drug,” he said.
We see this point. The underlying problem is hereNot that insurance companies increased their copays for no reason, however that insulin prices have skyrocketed almost tripled between 2002 and 2013, according to the American Diabetes Association. Capping copays treats a fatal symptom but does nothing about the disease.
Patents protect insulin manufacturers, and the most effective insulins have no generic option. A more comprehensive solution for the more than 7.4 million insulin-dependent Americans with diabetes likely requires action by Congress, but until that can be done, SB 1082 is a good step.
It must be said that the economics of a copay cap can rightly lead to higher premiums for people who do not have diabetes and do not use insulin.
However, it is reasonable to give preference to the cost to insurance companies and their policyholders. One of the primary purposes of health insurance is to spread risks and costs across a broad population, thereby reducing their crush potential for individuals. We all pay so that nobody is overwhelmed by the costs.