DE HB24

Limits copayments or coinsurance for covered prescription drugs to the lesser of: the applicable copayment/coinsurance that would normally apply, the usual and customary price, or the contract price paid by pharmacies to carriers or pharmacy benefits managers.

Applies to all carriers providing health insurance in Delaware, including insurance companies, health service corporations, health maintenance organizations, and entities providing health benefits subject to state insurance regulation.

Covers both direct carrier coverage and coverage provided through pharmacy benefits managers for prescription drugs under policies issued or delivered in Delaware.

Defines "contract price" as the lowest price a pharmacy is paid for a prescription drug based on contracts with carriers or pharmacy benefits managers, including any agreed-upon dispensing fees.

Effective for health insurance or health benefit plans issued or renewed on or after January 1, 2020.