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Federal

Affordable Insulin Now Act

Source: Congress.gov  ·  2,531 words in original text
This bill requires health insurance plans and insurance companies to limit what patients pay for insulin medications. Starting in 2024, plans must cover certain insulin products with low or no upfront costs (called cost-sharing). The bill changes rules under three major health insurance laws. ##
- People with group health insurance through employers - People with individual health insurance (bought on their own) - Health insurance companies - Self-insured group health plans - Pharmacy benefit managers (companies that manage prescription drug benefits) ##
- Health insurance plans must provide coverage of selected insulin products with no upfront costs before meeting a deductible (the amount you pay before insurance kicks in) starting on or after January 1, 2024 (Sec. 2) - For a 30-day supply of selected insulin products, patients pay whichever is lower: $35 or 25 percent of the negotiated price (the price insurance companies agree to pay) after accounting for any discounts or rebates the insurance company receives (Sec. 2) - "Selected insulin products" means at least one type of each insulin form (like vials, pumps, or inhalers) in each category (like fast-acting or long-acting), when available, as chosen by the insurance plan (Sec. 2) - Plans with a network of providers (approved doctors and pharmacies) do not have to cover insulin from doctors or pharmacies outside their network, and can charge higher costs for out-of-network insulin (Sec. 2) - Any money patients pay for insulin counts toward their deductible or annual out-of-pocket maximum (the most they have to pay in a year) (Sec. 2) ##
If this becomes law, people who take insulin will pay no more than $35 for a 30-day supply (or 25 percent of the negotiated price, whichever is lower) instead of potentially paying much higher amounts. Insurance plans must cover at least one form of each type of insulin. The requirement applies to employer-sponsored insurance, individual insurance purchased directly, and self-insured plans. ##
- **Selected insulin products**: At least one of each type and form of insulin (vial, pump, inhaler, rapid-acting, short-acting, intermediate-acting, long-acting, ultra long-acting, or premixed), when available, chosen by the insurance plan - **Insulin**: Medications that are approved by federal authorities and continue to be sold, including newer insulin products approved under biosimilar rules (a process for approving drugs similar to existing medications) - **Cost-sharing**: The amount patients must pay out of their own pockets for health care (like copays or coinsurance) - **Negotiated price**: The price that an insurance plan agrees to pay for a medication after haggling with drug makers or pharmacy benefit managers - **Out-of-network provider**: A doctor, pharmacy, or other health provider that does not have a contract with a patient's insurance plan ##
Plan years beginning on or after January 1, 2024
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.