The Insulin Cost Reduction Act caps the price for a 30-day supply of insulin for those on state-regulated commercial health plans and applies to all policies issued or renewed in the state starting in 2023.
The American Diabetes Association praised the new law as “a critical action that will help save lives and reduce the burden of insulin costs.”
In March, the U.S. House of Representatives passed a bill to cap monthly insulin prices at $35, though that legislation has stalled in the Senate.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.