HB 292 - Establishes an Insulin Price Cap - New Mexico Key Vote

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Title: Establishes an Insulin Price Cap

Vote Smart's Synopsis:

Vote to pass a bill that limits the cost of insulin to $25 per 30-day supply.

Highlights:

 

  • Requires group health care coverage, including any form of self-insurance, offered, issued, or renewed under the Health Care Purchasing Act to cap the amount an insured individual is required to pay for a preferred formulary prescription insulin drug or a medically necessary alternative at no more than $25 per 30-day supply (Sec. 1).

  • Requires each individual and group health insurance policy, health care plan, certificate of health insurance and managed health care plan delivered in the state to provide coverage for individuals with insulin-using diabetes, with non-insulin-using diabetes, and with elevated blood glucose levels induced by pregnancy (Sec. 2).

  • Specifies that the above-mentioned coverage must be a basic health care benefit and must entitle each individual to the medically accepted standard of medical care for diabetes and benefits for diabetes treatment as well as diabetes supplies, and this coverage cannot be reduced or eliminated (Sec. 2).

  • Requires all individuals with diabetes enrolled in health policies to be entitled to the following equipment, supplies, and appliances to treat diabetes when prescribed or diagnosed by a health care practitioner (Sec. 2):

    • Blood glucose monitors, including those for the legally blind; 

    • Test strips for blood glucose monitors; 

    • Visual reading urine and ketone strips; 

    • Lancets and lancet devices; 

    • Insulin; 

    • Injection aids, including those adaptable to meet the needs of the legally blind; 

    • Syringes;

    • Prescriptive oral agents for controlling blood sugar levels; 

    • Medically necessary podiatric appliances for the prevention of feet complications associated with diabetes, including therapeutic molded inserts; and

    • Glucagon emergency kits.

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