Group health care coverage, including any form of self-insurance, offered, issued or renewed under the Health Care Purchasing Act shall cap the amount an insured is required to pay for a preferred formulary prescription insulin drug or a medically necessary alternative at an amount not to exceed a total of twenty-five dollars ($25.00) per thirty-day supply.
History: Laws 2020, ch. 36, § 1.
ANNOTATIONSEffective dates. — Laws 2020, ch. 36, § 5 made 2020, ch. 36, § 1 effective January 1, 2021.
Temporary provisions. — Laws 2020, ch. 36, § 4, effective May 20, 2020, provided that the superintendent of insurance shall convene an advisory group to include the secretary of human services, the secretary of health and the secretary of general services or their designees and the dean of the university of New Mexico college of pharmacy or the dean's designee to study the cost of prescription drugs for New Mexico consumers and make recommendations on increasing accessibility of prescription drugs. The report shall be submitted to the legislative health and human services committee and the legislative finance committee no later than October 1, 2020. The study shall examine, at a minimum, the benefits to New Mexico consumers and the potential costs of setting cost-sharing limitations for the following categories of drugs:
A. inhaled prescription drugs used to control asthma;
B. oral medications to treat or control diabetes;
C. injectable epinephrine devices for severe allergic reactions;
D. opioid reversal agents;
E. medications used to treat hypertension;
F. antidepressant medications;
G. antipsychotic medications;
H. lipid-lowering agents; and
I. anticonvulsants.