Press Release: VBID Elements in Build Back Better Act passed by House of Representatives
Build Back Better Act passed by House of RepresentativesIncludes V-BID Elements On November 19, 2021 the U.S. House of Representatives passed the Build Back Better Act (H.R.5376), which allocates funds to combat climate change, bolster the U.S. social safety net, and expand healthcare. The bill promotes elements of value-based insurance design (V-BID), including pre-deductible coverage and cost sharing cap of $35 month on selected insulin products (Sec. 27001), a $2,000/year cap and even monthly distribution of out-of-pocket costs for Medicare beneficiaries (Sec. 139201 and 139202), and the removal of co-pays for vaccines under Medicare Part D as recommended by ACIP (Sec. 139402). Excerpts from the bill are included below.SEC. 27001. SEC. 726. REQUIREMENTS WITH RESPECT TO COST-SHARING FOR CERTAIN INSULIN PRODUCTS"(a) IN GENERAL.-- for plan years beginning on or after January 1, 2023, a group health plan or health insurance issuer offering group health insurance coverage shall [...]