Gov. Gavin Newsom has vetoed a bill that would have stopped insurance companies from charging more than $35 for 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. That would have included deductibles and co-pays. Newsom, a Democrat, said earlier this year that California would soon start making its own brand of insulin.
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.' State Sen.
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. In March, the largest insulin makers announced they would voluntarily reduce the price of their products.