Title: Limits the Cost of Insulin to $50 Per 30-Day Supply
Signed by Governor Ralph Northam
Title: Limits the Cost of Insulin to $50 Per 30-Day Supply
Title: Limits the Cost of Insulin to $50 Per 30-Day Supply
Vote to amend and pass a bill that limits the cost of insulin to $50 per 30-day supply.
Requires every health plan offered by a carrier to set the cost-sharing payment that a covered person is required to pay for a covered prescription insulin drug at an amount that does not exceed $50 per 30-day supply, regardless of the amount or type of insulin needed to fill the covered person’s prescription (Sec. 1).
Prohibits provider contracts between a carrier or its pharmacy benefits manager and a pharmacy or its contracting agent from authorizing the carrier’s pharmacy benefits manager or pharmacy to charge, requiring the pharmacy to collect, or requiring a covered person to make a cost-sharing payment for a covered prescription insulin drug in an amount that exceeds $50 per 30-day supply (Sec. 1).
Defines “cost-sharing payment” as the total amount a covered person is required to pay at the point of sale in order to receive a prescription drug that is covered under the covered person’s health plan (Sec. 1).
Specifies that these provisions apply to health plans and provider contracts entered into, amended, extended, or renewed on or after January 1, 2021 (Sec. 1).
Title: Limits the Cost of Insulin to $50 Per 30-Day Supply
Title: Limits the Cost of Insulin to $50 Per 30-Day Supply