CO HB1216

Caps the total cost-sharing amount that insured individuals must pay for a 30-day supply of prescription insulin at $100, regardless of insulin type or quantity needed, effective for health coverage plans issued or renewed on or after January 1, 2020.

Allows insurance carriers to reduce patient cost-sharing below the $100 cap if they choose to do so.

Requires the Department of Law to investigate prescription insulin pricing practices and issue a public report by November 1, 2020, with findings and recommendations to control overpricing and prevent deceptive sales practices.

Authorizes the Attorney General to issue civil investigative demands to state departments, carriers, pharmacy benefit managers, and manufacturers to gather pricing and business practice information, while protecting trade secrets from disclosure.

Appropriates $26,054 to the Division of Insurance for the 2019-20 fiscal year to implement the requirements, assuming an additional 0.4 FTE position.