Bill > SB124

This bill aims to address the high cost of insulin for individuals with diabetes in West Virginia. The key provisions of the bill are: 1. Findings: The bill acknowledges the significant burden of diabetes in West Virginia, with over 240,000 residents diagnosed with type 1 or type 2 diabetes, and the high annual medical costs associated with the condition (estimated at $2.5 billion). 2. Insulin Cost Cap: The bill requires any health insurance plan issued or renewed after January 1, 2021, to cap the total amount a covered person is required to pay for a covered prescription insulin drug at $25 per 30-day supply, regardless of the type or amount of insulin needed. 3. Enforcement: The bill grants the Insurance Commissioner the authority to use any enforcement powers to ensure carriers comply with the insulin cost cap provision. 4. Rulemaking: The bill authorizes the Insurance Commissioner to promulgate rules as necessary to implement and administer the insulin cost cap section, aligning with federal requirements. The overall goal of the bill is to reduce the financial burden of insulin costs for individuals with diabetes in West Virginia, ensuring they can access this essential medication without facing exorbitant out-of-pocket expenses.

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http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=124&year=2021&sessiontype=RS&btype=bill