Enacts GS 58-3-295 to prohibit an insured's copayment under a health benefit plan that covers insulin from exceeding $25 for a month's supply, or a proportional copayment for another quantity, regardless of the amount or types of insulin needed. Applies to insurers and pharmacy benefits managers. Applies to contracts issued, renewed, or amended on or after October 1, 2023.

Requires the Department of Insurance (DOI) to study (1) the feasibility of further reducing the maximum copayment for insulin and (2) imposing a maximum copayment on the provision of diabetes-related equipment. Requires DOI to report its finding and recommendations to the specified NCGA committees and division by January 1, 2024.