New Jersey limits the amount you pay for these important prescription medications

💵 NJ limits some prescription costs
💵 Law signed in 2023, effective in 2025
💵 Limits the price of the monthly offer

Officials in New Jersey are preparing to enforce new out-of-pocket limits for several critical prescription drugs starting January 1, 2025.

Gov. Phil Murphy signed a package of laws last year that made New Jersey the second state in the country to limit consumer spending on asthma inhalers and EpiPens in addition to insulin.

At the start of the law, state officials issued a bulletin to provide guidance to carriers.

Health insurance carriers in the fully insured market – including individual and small employer providers – would now be required to allow the purchase of certain medications without a deductible and without payment or coinsurance in excess of the following limits.

New Jersey caps insulin products at $35 for a 30-day supply.

For EpiPens, the price for a monthly supply is capped at $25, also with no deductible in New Jersey, while for asthma inhalers, the monthly supply is $50.

Rules to promote transparency in prescription drug costs went into effect in October, Attorney General Matthew Platkin and the Division of Consumer Affairs said.

The state would use the data for an annual report on emerging price trends.

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