An insurer and an administrator shall apply the annual limitation on cost sharing set forth in the federal Patient Protection and Affordable Care Act under 42 U.S.C. 18022(c)(1) to prescription drugs that:

1. (1) are covered under a policy or contract of health insurance coverage offered or issued by the insurer;
2. (2) are life-saving or intended to manage chronic pain; and
3. (3) do not have an approved generic version.

As added by P.L.237-2025, SEC.10.