KY SB103

Insurers, pharmacy benefit managers, and pharmacy benefit administrators cannot require insured individuals to pay more in cost sharing for a covered prescription drug than the cash price available to purchase the drug without insurance coverage

All amounts paid by or on behalf of an insured for covered prescription drugs, including cash prices that don't exceed the negotiated price, must count toward the insured's deductible and out-of-pocket maximums

Insurers must establish clear written procedures for insureds, pharmacies, manufacturers, or others to submit proof of cash prices paid, and pharmacies are required to submit such proof for each transaction

The expanded definition of "health plan" now covers a broader range of insurance products including Medicare Part D prescription drug plans, Medicare Advantage plans, Medicare supplement coverage, short-term limited-duration coverage, and student health insurance

Provisions take effect January 1, 2027, and apply to health plans issued or renewed on or after that date