FL H1063

Creates new statutes requiring individual and group health insurers and their pharmacy benefit managers to apply all payments made by or on behalf of insureds toward total cost-sharing requirements, including deductibles, copayments, and coinsurance, effective January 1, 2024.

Expands definition of applicable payments to include amounts from financial assistance programs, manufacturer copay cards, product vouchers, and any other out-of-pocket expense reductions for prescription drugs.

Requires health insurers to disclose on websites and in policy documents that payment amounts must be applied toward cost-sharing requirements.

Mandates pharmacy benefit manager contracts include provisions requiring application of payments toward cost-sharing requirements and disclosure of this policy to insureds.

Applies requirements to health maintenance organizations and their pharmacy benefit managers, with similar disclosure and payment application requirements effective January 1, 2024; also requires small employer carriers to comply with cost-sharing provisions; takes effect July 1, 2023.