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Affordable Insulin Now Act of 2023

Source: Congress.gov  ·  2,902 words in original text
This bill limits how much people with private health insurance must pay for insulin medications. It also creates a program where the federal government reimburses health care providers and pharmacies that give discounted insulin to people without insurance. ##
- People with private health insurance coverage (group plans and individual plans) - People without any health insurance - Health care providers and pharmacies - Health insurance companies - Employers offering health plans - The federal government ##
- Health insurance plans must limit insulin cost-sharing to the lower of $35 or 25 percent of the negotiated price per 30-day supply, and cannot charge a deductible for selected insulin products starting January 1, 2024 (Sec. 2) - Plans must cover at least one type of insulin in each dosage form (vial, pump, inhaler) and each category (rapid-acting, short-acting, intermediate-acting, long-acting, ultra long-acting, and premixed) when available (Sec. 2) - The federal government will reimburse qualifying health care providers and pharmacies for the difference between what an uninsured person pays out-of-pocket and $35 per 30-day supply of insulin, starting January 1, 2024 (Sec. 3) - Payments made by patients toward insulin cost-sharing count toward their yearly deductible and out-of-pocket maximum limits (Sec. 2) - Plans can charge higher costs for insulin from providers outside their network and can impose normal costs on non-selected insulin products (Sec. 2) ##
Insurance companies must provide affordable insulin access starting January 1, 2024. People with private insurance will pay no more than $35 per 30-day supply of selected insulin products. Health care providers and pharmacies can participate in a new federal program to help uninsured people afford insulin at $35 per 30-day supply. ##
- **Selected insulin products:** At least one of each type and dosage form of insulin available that the health plan or insurance company chooses to cover - **Insulin:** Medication that is licensed under federal law and continues to be sold in the United States - **Uninsured individual:** A person who does not have insurance coverage for a particular insulin product (or a similar one in the same category) - **Qualifying entity:** A health care provider or pharmacy that agrees not to charge uninsured patients any amount for insulin covered under this program and meets other requirements set by the Secretary ##
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.