Tennessee Senate Bill SB1683

Tennessee 2023-2024 Regular Session

• Introduced: 1/9/24
• Failed: 2/20/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 8; Title 53; Title 56, Chapter 7; Title 63 and Title 71, Chapter 5, relative to insulin.

Impact

One of the most significant provisions of SB1683 is the introduction of a cap on the out-of-pocket costs for insulin. The legislation mandates that health insurance carriers in Tennessee must limit the maximum amount a patient pays for a thirty-day supply of insulin to $35. This applies to both state and local insurance programs, including those contracted with the TennCare program. By implementing this cap, the bill seeks to make essential diabetes medication more affordable for patients, potentially improving health outcomes across the population.

Summary

Senate Bill 1683, also known as the Insulin Cost Reduction Act, aims to address the rising costs of insulin for patients with diabetes in Tennessee. The bill amends various sections of the Tennessee Code Annotated to establish definitions for key terms such as 'healthcare professional,' 'insulin supplier,' and 'prescription insulin drug.' By providing clearer definitions, the bill ensures that all stakeholders, including suppliers and healthcare professionals, understand their roles in delivering insulin to patients. The primary focus of the bill is to alleviate the financial burden on patients who require insulin, a necessary medication for managing diabetes.

Contention

While SB1683 aims to provide relief for diabetes patients, it has sparked discussions among legislators and healthcare advocates. Proponents argue that the cap on insulin prices will significantly benefit patients and potentially reduce emergency health care costs associated with inadequate diabetes management. However, some opponents raise concerns regarding the long-term implications of price capping on insulin suppliers and manufacturers. Critics fear that limiting prices could affect the availability or quality of insulin products in the market, creating challenges for suppliers who must still cover production costs.

Effective_date

If enacted, SB1683 will take effect on July 1, 2024, ensuring that the provisions are implemented in a timely manner to assist patients immediately as they continue to face high costs for insulin and other diabetes management tools.