Statement of State Rep. Brad Halbrook (R-Shelbyville) on his opposition this week to Senate Bill 667, which limits insurance co-pays for insulin.
“There’s no question that the price of insulin and many other life-saving drugs is way too high, but this approach is not the fix we need,” said Rep. Halbrook “First of all, price controls never work. They only result in a reduction in supply, and in this case, that could be life-threatening.”
“What’s more, there’s nothing to prevent insurance companies from simply raising consumers’ premiums which could completely erase any savings they may see through reduced co-pays. We need solutions that will reduce the cost of the drugs themselves. That will continue to be my focus,” Rep. Halbrook said.