1. Short title This Act may be cited as the Insulin Price Reduction Act . 2. Insulin price protections (a) In general Subpart II of part A of title XXVII of the Public Health Service Act ( 42 U.S.C. 300gg–11 et seq.) is amended by adding at the end the following: 2729A. Insulin price protections (a) Contracting requirements (1) In general (A) Requirement Except as provided in subparagraph (B), a group health plan or a health insurance issuer offering group or individual health insurance coverage shall not, and shall ensure that any entity that provides pharmacy benefits management services under a contract with any such health plan or health insurance coverage does not, directly or indirectly, receive from a manufacturer of certified insulin a rebate, reduction in price, or other remuneration with respect to such insulin received by an enrollee in the plan or coverage and covered by the plan or coverage. (B) Exception The requirement under subparagraph (A) shall not apply to— (i) any such reduction in price that is reflected at the point of sale to the enrollee; or (ii) any remuneration that is a flat fee-based service fee that a manufacturer of such insulin pays to a pharmacy benefit manager for services rendered to the manufacturer that relate to arrangements by the pharmacy benefit manager to provide pharmacy benefit management services to a health plan or health insurance issuer, if certain conditions established by the Secretary are met, including requirements that the fees are transparent to the health plan or health insurance issuer. (2) Applicability The restriction under paragraph (1) shall apply with respect to insulin described in paragraph (1), for which the manufacturer has certified the list price in accordance with section 5(b) of the Insulin Price Reduction Act with respect to— (A) any plan year in which the list price for insulin is certified under section 5(b)(2)(A) of the Insulin Price Reduction Act