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 for the latter to ensure compliance with federal regulations regarding health savings accounts. The bill stipulates that these changes will take effect for policies delivered, issued, or renewed after December 31, 2025.

Additionally, the bill defines key terms such as "cost-sharing requirement," "health savings account," "high deductible health plan," and "prescription drug," clarifying the scope of the new regulations. It also includes a provision stating that if any part of this section conflicts with federal law, the federal law will take precedence. Overall, the bill aims to enhance the financial protections for enrollees in Michigan's health insurance market regarding prescription drug costs.

Statutes affected:
House Introduced Bill: 500.100, 500.8302