AN ACT to limit an insured's copayment for insulin and to study the feasibility of further reducing insulin copayments.

The General Assembly of North Carolina enacts:

SECTION 1.  Article 3 of Chapter 58 of the General Statutes is amended by adding a new section to read:

§ 58‑3‑295.  Coverage for insulin.

(a)        An insured's copayment under a health benefit plan that provides coverage for insulin shall not exceed twenty‑five dollars ($25.00) for a month's supply of insulin, or a proportional copayment for a quantity of insulin other than a month's supply, regardless of the amount or the types of insulin needed.

(b)        The provisions of this section apply to insurers and pharmacy benefits managers, as defined in G.S. 56‑56A‑1.

SECTION 2.  The Department of Insurance shall study (i) the feasibility of further reducing the maximum copayment for insulin and (ii) imposing a maximum copayment on the provision of diabetes‑related equipment. The Department shall report the findings of this study, including any legislative recommendations, to the North Carolina General Assembly, the chairs of the Joint Legislative Committee on Health and Human Services, and the Fiscal Research Division no later than January 1, 2024.

SECTION 3.  Section 1 of this act becomes effective October 1, 2023, and applies to contracts issued, renewed, or amended on or after that date. The remainder of this act is effective when it becomes law.