Cancer Drug Parity Act of 2023

This bill requires group health plans (like employer-sponsored insurance) to provide equal cost-sharing (such as copays and deductibles) for oral anticancer medications as for intravenous or injected versions, provided a doctor deems the oral drug medically necessary. It prohibits plans from changing coverage to increase out-of-pocket costs for oral drugs or impose stricter limits on them compared to IV drugs. The requirement applies to FDA-approved anticancer drugs used to treat cancer, with plans still allowed to use prior authorization. The law takes effect for 2024 plan years.