Bill > H1059

This bill aims to regulate separate out-of-pocket insurance limits for prescription drugs, including specialty drugs, in Massachusetts. It amends several chapters of the General Laws to require health insurance policies, contracts, and certificates that provide prescription drug coverage to establish a separate out-of-pocket limit for prescription drugs, which cannot exceed the minimum annual deductible for a high-deductible health plan under the federal Internal Revenue Code. The bill provides definitions for the term "out-of-pocket limit" and specifies that it applies to policies, contracts, and certificates issued or renewed on or after January 1, 2021.