IA HF405

Caps out-of-pocket costs for prescription insulin at $25 maximum per prescription for up to a 31-day supply, covering at least one type each of rapid-acting, short-acting, intermediate-acting, and long-acting insulin drugs

Applies to individual and group accident/sickness insurance, hospital/medical service contracts, health maintenance organization contracts, and public employee plans delivered, issued, continued, or renewed on or after January 1, 2026

Excludes accident-only, specified disease, short-term hospital, dental, vision, Medicare supplement, long-term care, disability income, workers' compensation, and automobile medical payment insurance from the requirements

Defines "cost-sharing" to include coverage limits, copayments, coinsurance, deductibles, and other out-of-pocket expenses imposed on covered persons

Authorizes the Commissioner of Insurance to adopt rules to administer the requirements