Signed by Governor Joseph Lombardo

Vote Smart's Synopsis:

Vote to pass a bill that establishes a $35 price cap on insulin for people who use private insurance in Nevada.

Highlights:

● Establishes a price cap on prescription insulin drugs to no more than $35 for a 30-day supply under most private insurance policies (Sec. 1).

● Specifies the price cap to policies covering individual, group, managed care, hospital or medical service, and prepaid limited health service contracts, with specific provision not applicable by health insurance, and some public employee coverage plans (Secs. 12-17).

● Authorizes the Commissioner of Insurance to enforce compliance by establishing the ability to suspend or revoke certificates of authority for insurers or organizations that fail to follow the new cost provisions (Sec. 14).

● Specifies that the insulin price cap takes precedence over conflicting provisions in existing insurance policies (Sec. 13).

● Specifies that the new provisions apply to extensions or renewals of insurance contracts issued on or after October 1, 2025 (Sec. 18).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that establishes a $35 price cap on insulin for people who use private insurance in Nevada.

Highlights:

● Establishes a price cap on prescription insulin drugs to no more than $35 for a 30-day supply under most private insurance policies (Sec. 1).

● Specifies the price cap to policies covering individual, group, managed care, hospital or medical service, and prepaid limited health service contracts, with specific provision not applicable by health insurance, and some public employee coverage plans (Secs. 12-17).

● Authorizes the Commissioner of Insurance to enforce compliance by establishing the ability to suspend or revoke certificates of authority for insurers or organizations that fail to follow the new cost provisions (Sec. 14).

● Specifies that the insulin price cap takes precedence over conflicting provisions in existing insurance policies (Sec. 13).

● Specifies that the new provisions apply to extensions or renewals of insurance contracts issued on or after October 1, 2025 (Sec. 18).

Full Bill Text