This bill amends the Michigan Insurance Code of 1956 by adding a new section, 3406nn, which mandates that health insurance policies providing coverage for prescription drugs must account for any amounts paid by the enrollee or on their behalf when calculating out-of-pocket maximums and cost-sharing requirements. This requirement applies to both non-high deductible health plans and high deductible health plans, with specific provisions ensuring that payments do not jeopardize the enrollee's health savings account eligibility under federal tax law. The bill also clarifies that payments for preventive care must be applied regardless of whether the minimum deductible has been met.

The new section defines key terms such as "cost-sharing requirement," "health savings account," "high deductible health plan," and "prescription drug," while also stipulating that the provisions will take effect for policies delivered, issued, or renewed after December 31, 2025. Additionally, it establishes that in the event of a conflict between this section and federal law, the federal law will take precedence.

Statutes affected:
Senate Introduced Bill: 500.100, 500.8302