Proposed H.B. No. 5485
Session Year 2025
AN ACT ESTABLISHING A CAPTIVE INSURANCE COMPANY TO ADMINISTER A BULK PURCHASE AND DISTRIBUTION OF GLUCAGON-LIKE PEPTIDE-1 PRESCRIPTION DRUGS TO QUALIFYING INDIVIDUALS IN THIS STATE TO TREAT OBESITY.
To establish a captive insurance company, which shall be supported by the appropriation of the sum of ten million dollars to said captive insurance company, from the General Fund, for the fiscal year ending June 30, 2026, for the purpose of (1) bulk purchasing glucagon-like peptide-1 receptor antagonist prescription drugs from drug manufacturers, and (2) distributing such prescription drugs to covered persons in this state who satisfy a means-tested qualification process and demonstrate an inability to obtain such prescription drugs from such covered person's health insurer to treat obesity.
