SB 332 would require insurers to cap an insured person’s out-of-pocket cost for prescription insulin drugs at no more than $35 for a 30-day supply. The cap applies to the total amount paid during that period, regardless of how many insulin prescriptions are filled or how many different insulin products are prescribed, so long as they are medically necessary and used to treat diabetes. The bill also allows insurers to set a lower cost-sharing amount if they choose.
The bill applies to health insurance plans issued, delivered, amended, or renewed after June 30, 2025, and it would take effect July 1, 2025. It includes a carve-out for high-deductible health plans: if the insulin cost cap would cause a plan to lose its federal high-deductible status under the Internal Revenue Code, the cap would not apply to the extent needed to preserve that status. The bill amends Indiana insurance law by adding new definitions and cost-sharing requirements in IC 27-8-14.5.
Impact
SB 332 would add a new section to Indiana’s insurance code governing prescription insulin cost-sharing and would directly limit what insurers can charge covered individuals for insulin. Its practical effect would be to reduce out-of-pocket costs for people with diabetes who rely on insulin, while shifting some of the cost burden to insurers and potentially to premiums or plan design. The bill also preserves compliance with federal high-deductible health plan rules by exempting plans where the cap would otherwise interfere with tax-advantaged status.
Sentiment
Based on the bill caption and the absence of recorded committee testimony or votes in the provided materials, the bill appears to be framed as a consumer-protection and affordability measure with generally favorable policy intent. The text is straightforward and narrowly targeted, suggesting support for lowering insulin costs for patients. No formal opposition or recorded debate is included in the provided context, so the overall sentiment cannot be assessed beyond the bill’s apparent pro-affordability purpose.
Contention
The main potential point of contention is the balance between lowering insulin costs for patients and preserving insurer flexibility and plan affordability. Insurers may be concerned about mandated cost-sharing limits and their effect on premiums or benefit design, while consumer advocates would likely support the cap as relief for people with diabetes. Another technical issue is the high-deductible health plan exception, which reflects a compromise to avoid federal tax-law conflicts and may limit the cap’s reach for some enrollees.