January 12, 2023, Introduced by Rep. Conlin and referred to the Committee on Insurance and Financial Services.

A bill to amend 1956 PA 218, entitled

"The insurance code of 1956,"

(MCL 500.100 to 500.8302) by adding section 3406z.

the people of the state of michigan enact:

Sec. 3406z. (1) An insurer that delivers, issues for delivery, or renews in this state a health insurance policy that provides coverage for prescription insulin drugs shall cap the total amount that an insured is required to pay for prescription insulin drugs at an amount not to exceed $50.00 for each 30-day supply of prescription insulin drugs.

(2) This section does not prevent an insurer described in subsection (1) from reducing the insured's cost sharing by an amount greater than $50.00.

Enacting section 1. This amendatory act applies to health insurance policies delivered, executed, issued, amended, adjusted, or renewed in this state, or outside of this state if covering residents of this state, beginning 90 days after the date this amendatory act is enacted into law.