AN ACT ESTABLISHING A CAPTIVE INSURANCE COMPANY TO ADMINISTER A BULK PURCHASE AND DISTRIBUTION OF GLUCAGON-LIKE PEPTIDE-1 PRESCRIPTION DRUGS TO QUALIFYING INDIVIDUALS IN THIS STATE TO TREAT OBESITY.

HB 5485 establishes a state-run captive insurance company funded with $10 million from the General Fund for fiscal year 2026. The company will bulk-purchase GLP-1 prescription drugs (used to treat obesity) from manufacturers and distribute them to qualifying residents who meet income-based eligibility criteria and cannot obtain these drugs through their health insurer. It directly affects low-income individuals with obesity who face barriers to accessing these medications via standard insurance coverage. The bill creates a concrete mechanism for state-administered drug access without altering existing insurance mandates.