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Relating to the health benefit plan cost-sharing requirements for prescription insulin.
Estimated Two-year Net Impact to General Revenue Related Funds for SB 827, Committee Report 2nd House, Substituted : a NEGATIVE impact of ($1,236,073) through the biennium ending August 31, 2023.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
SB 827 would prevent a health benefit plan from imposing a cost-sharing provision for insulin if the total amount the enrollee is required to pay exceeds $25 for a 30-day supply, regardless of the amount or type of insulin needed to fill the enrollee's prescription. Exemptions are provided for certain types of plans. SB 827 would also require a health benefit plan to include at least one insulin from each therapeutic class in the plan's formulary.
SB 827 is a big government solution to high insulin costs which will ultimately hurt consumers. Placing a $25 out of pocket cap on 30 day insulin supplies will only force health benefit plan providers to find other ways to recoup the costs of insulin. This infringes on our free market and limited government principles, therefore we oppose SB 827.