MI SB0625

Requires health insurers and HMOs offering expense-incurred hospital, medical, or surgical policies to ensure financial requirements for orally administered anticancer medications are no more restrictive than those for intravenously or injected anticancer medications.

Caps financial requirements for orally administered anticancer medications at $100.00 per 30-day supply, with annual adjustments beginning January 1, 2018, based on the prescription drug index of the medical care component of the U.S. consumer price index.

Mandates treatment limitations for orally administered anticancer medications be no more restrictive than those applied to intravenously or injected anticancer medications, with no separate treatment limitations applicable only to oral forms.

Prohibits insurers from achieving compliance by increasing financial requirements, reclassifying benefits, or imposing more restrictive treatment limitations on any anticancer medications.

Applies to policies, certificates, and contracts delivered or renewed after December 31, 2016, but excludes disease-specific, hospital indemnity, Medicare supplement, long-term care, disability income, and limited-duration policies with terms of 6 months or less.