health insurance issuer, regardless of whether such adjustments are prospective or retrospective. (4) Prescription drug The term prescription drug mean a drug, as defined in section 201(g) of the Federal Food, Drug, and Cosmetic Act, that is subject to section 503(b)(1) of such Act. . (2) Application to ERISA plans Subpart A of part 7 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1185 et seq.) is amended by adding at the end the following new section (and amending the table of contents accordingly): 704. Net price for insulin drugs (a) Availability of net price With respect to plan years beginning on and after January 1, 2021, a group health plan shall provide a participant, beneficiary, or enrollee who has diabetes access to an insulin drug at— (1) the lesser of— (A) the 10 percent of the average net price for such drug published pursuant to section 2(a) of Matt’s Act, plus the average charges for distribution and dispensing described in subsection (c) for such drug