Bill > SB372

This bill amends the Insurance Company Law of 1921 to require insurers and pharmacy benefits managers (PBMs) to include all cost-sharing amounts paid by the insured or on behalf of the insured by another person when calculating the insured's contribution to applicable cost-sharing requirements under a health insurance policy. The bill defines "cost-sharing" as cost to the insured according to coverage limits, copayments, coinsurance, deductibles, or other out-of-pocket expenses, and "health insurance policy" as individual or group health, sickness, or accident policies, contracts, or certificates issued or renewed by entities subject to the Insurance Company Law, the Health Maintenance Organization Act, or laws governing hospital and professional health services plan corporations. The bill excludes certain types of insurance policies, such as accident-only, fixed indemnity, and long-term care. The provisions of the bill apply to health insurance policies issued, entered into, or renewed on or after the effective date of the bill, which is 60 days after enactment.