INSULIN Act of 2023

The INSULIN Act of 2023 sets cost-sharing limits for insulin products under most health insurance plans. Starting in 2024, health plans must cover selected insulin products with no deductible and cost-sharing capped at $35 per 30-day supply before 2025, and at the lesser of $35 or 25% of the negotiated price after 2025. The bill defines "selected insulin products" to include at least one of each dosage form (vial, pen, inhaler) and type (rapid-acting, short-acting, intermediate-acting, long-acting, pre-mixed) of insulin. It also requires pharmacy benefit managers to pass through 100% of insulin rebates to health plans and mandates a report on insulin market competition and barriers to biosimilar adoption. This legislation directly affects millions of people with diabetes who rely on insulin and their health insurance plans.