Great information, thank you!
Yeah, this really does look bad. Kinda seems like a loophole is being created for the insurance companies to bypass certain state regulations, and in the process it will threaten diabetes coverage, among other things. Not a good deal. I'll look into contacting my reps.
The web page that I list below is a press release written about the bill. For details, click on the link at the bottom of the press release, "fact sheet". This seems to indicate that diabetic supplies covered by insurance may be affected, which would be cause for concern. Of course, evey article is written from a specific point of view, and this one is definitely written from a position of opposition to the bill.
http://www.familiesusa.org/resources/newsroom/press-releases/enzi-bill-puts-85-million.html
It appears that the American Diabetes Association is against the bill as it stands now. Read the article on the web page whose link is copied below to see what they have to say about it:
http://newstandardnews.net/content/index.cfm/items/2915
Below is another link to an article that tells where this bill is in its path to becoming law:
http://www.senate.gov/~enzi/proshae.htm
You may want to read more of the postings on the web about this bill, and then contact your state representatives if you want to help influence their decisions.