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Making Insulin Affordable for All Children Act

Source: Congress.gov  ·  2,908 words in original text
This bill requires private health insurance plans and Medicaid to limit what people 26 years old and younger have to pay out of pocket for insulin (a medication used to treat diabetes). The bill caps monthly insulin costs and eliminates upfront deductibles (the amount people must pay before insurance kicks in) for young people on these plans. ##
- People 26 years old and younger with private health insurance coverage - People 26 years old and younger enrolled in Medicaid - Health insurance companies offering group and individual plans - Medicaid state programs - Self-insured group health plans (employer-sponsored plans that pay claims directly rather than buying insurance) ##
- Insurance plans must cover at least one type of each different form of insulin (such as vials, pumps, or inhalers) and each different action type (such as rapid-acting or long-acting) when available (Sec. 2(a)) - Young people 26 and under pay no upfront deductible for selected insulin products (Sec. 2(a)) - Cost-sharing for selected insulin products cannot exceed either $35 per 30-day supply or 25 percent of the negotiated price, whichever is lower (Sec. 2(a)) - Plans can charge higher costs if insulin is delivered by an out-of-network provider (a healthcare provider not in the plan's network) (Sec. 2(a)) - Amounts young people pay for insulin count toward their annual deductible and out-of-pocket maximum (the most they have to pay in a year) (Sec. 2(a)) ##
If this bill becomes law, starting January 1, 2024, young people 26 and under will no longer face an upfront deductible for insulin covered by private health plans or Medicaid. Their monthly insulin costs will be capped at the lower of $35 or 25 percent of the actual negotiated price. These changes only apply to "selected insulin products" that plans choose to cover, not to all insulin products. ##
- **Selected insulin products**: At least one of each form (vial, pump, inhaler) of each type (rapid-acting, short-acting, intermediate-acting, long-acting, ultra long-acting, premixed) of insulin that the insurance plan or Medicaid program chooses to cover when available - **Insulin**: Insulin that is licensed by the federal government and continues to be sold in the United States - **Negotiated price**: The price agreed upon between the insurance plan and insulin manufacturers, including all discounts and rebates the plan receives - **Cost-sharing**: Out-of-pocket payments people make for healthcare, such as copays (flat fees) or coinsurance (percentage of costs) ##
January 1, 2024 for private health plans and Medicaid (Sec. 2(a))
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.