This bill amends the Michigan Insurance Code of 1956 by adding a new section, 3406qq, which mandates that health insurance policies delivered, issued, or renewed in the state must cap co-pays or coinsurance for selected insulin products at a maximum of $35.00 for each 30-day supply. Insurers are required to apply this cap to at least one insulin product from various categories, including rapid-acting, short-acting, intermediate-acting, long-acting, ultra-long-acting, and premixed insulin. The bill also prohibits insurers from complying with this requirement by increasing other cost-sharing requirements or imposing more restrictive treatment limitations on selected insulin products.

Additionally, the bill allows insurers to reduce the co-pay or coinsurance for a covered selected insulin product below $35.00 and permits higher co-pays or coinsurance for benefits that are not selected insulin products. Starting July 1, 2027, the dollar amount cap will be adjusted annually based on the Consumer Price Index. The bill defines key terms such as "Consumer Price Index," "cost-sharing requirement," and "selected insulin product," and it applies to health insurance policies effective after June 30, 2026.

Statutes affected:
House Introduced Bill: 500.100, 500.8302