Signed by Governor Ralph Northam

Vote Smart's Synopsis:

Vote to amend and pass a bill that limits the cost of insulin to $50 per 30-day supply.

Highlights:

• Requires every health plan offered by a carrier to set the cost-sharing payment that a covered person is required to pay for a covered prescription insulin drug at an amount that does not exceed $50 per 30-day supply, regardless of the amount or type of insulin needed to fill the covered person’s prescription (Sec. 1).

• Prohibits provider contracts between a carrier or its pharmacy benefits manager and a pharmacy or its contracting agent from authorizing the carrier’s pharmacy benefits manager or pharmacy to charge, requiring the pharmacy to collect, or requiring a covered person to make a cost-sharing payment for a covered prescription insulin drug in an amount that exceeds $50 per 30-day supply (Sec. 1). 

• Defines “cost-sharing payment” as the total amount a covered person is required to pay at the point of sale in order to receive a prescription drug that is covered under the covered person’s health plan (Sec. 1).

• Specifies that these provisions apply to health plans and provider contracts entered into, amended, extended, or renewed on or after January 1, 2021 (Sec. 1).

Full Bill Text