An Act relative to patient financial protection

This bill requires most health insurance plans in Massachusetts to set a separate yearly maximum out-of-pocket limit specifically for prescription drugs (including specialty drugs). This limit cannot exceed the federal minimum annual deductible for high-deductible health plans (as defined in the Internal Revenue Code). It applies to all policies covering prescription drugs delivered, issued, or renewed after January 1, 2025, directly affecting patients who use prescription medications. The limit includes standard drug costs like copays and coinsurance, as defined under federal law.