Colorado became the first state to cap the monthly cost of insulin at $100. Here's why the life-saving drug is so expensive.

• Colorado became the first state to pass a bill capping the monthly cost of insulin per resident at $100. 
• Type 1 diabetics need insulin to survive. Due to drastic price increases, many diabetics are struggling to afford the lifesaving drug. 
• In the past 15 years, insulin prices have tripled. There are only three manufacturers who make insulin and decide the price for insulin — their prices have risen at the same rates.
• The insulin supply chain, like other pharmaceutical medications, is extremely complicated and opaque, so the consumer cannot see where prices get set and where they change throughout the supply chain. 
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Following is a transcript of the video.

Narrator: Many people in the United States can't afford insulin. The average price for one vial of insulin is about $285. Most diabetics need two to four vials per month. But here's the thing. Insulin prices weren't always this high. "Inexpensive, easily accessible."

Narrator: A Type 1 diabetes diagnosis was a death sentence before this life-saving discovery.

See the rest of the story at Business Insider

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SEE ALSO: No one could explain why this college student saw the price of his life-saving diabetes medication more than double, and it reveals a disturbing problem with the US healthcare system

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