Connecticut Senate Bill SB00045

Connecticut 2023 Regular Session

• Introduced: 1/12/23
• Refer: 1/12/23

Caption

An Act Requiring High Deductible Health Plan Deductibles To Credit Payments Made To Purchase Out-of-plan Prescription Drugs.

Impact

The proposed legislation is designed to facilitate greater accessibility to prescription medications, allowing insured individuals to benefit from more competitive pricing when opting for out-of-plan purchases. By ensuring that these expenditures count towards deductibles, the bill seeks to alleviate some of the financial burden on individuals who need medication that may not be adequately covered by their high deductible plans. This could lead to healthier outcomes by encouraging users to seek necessary prescriptions without worrying about out-of-pocket costs adversely affecting their deductibles.

Summary

SB00045, titled 'An Act Requiring High Deductible Health Plan Deductibles To Credit Payments Made To Purchase Out-of-plan Prescription Drugs,' aims to amend title 38a of the general statutes. The bill signifies a shift in how high deductible health plans account for payments made by insured individuals for out-of-plan prescription drugs. Specifically, it mandates that payments made for such drugs will count towards the deductible if the out-of-plan cost is less than what would be charged under the high deductible health plan itself. This initiative targets enhancing cost efficiency for consumers purchasing necessary medications outside of their health plans.

Contention

While SB00045 is expected to yield positive outcomes for many insured individuals, discussions around the bill may raise concerns regarding its implementation. Stakeholders in the insurance industry may express apprehensions about the potential financial implications for insurance companies if more patients opt for out-of-plan purchases due to the new crediting structure. Additionally, there could be debates on the adequacy of current health plans in providing essential medications versus the incentive to purchase them outside of these plans. Ultimately, these discussions will be crucial in determining how the bill affects the broader health insurance landscape.