Bill > S0696

This bill requires individual and group health insurers, as well as health maintenance organizations (HMOs), to provide notice to current and prospective insureds/subscribers and their treating physicians of any changes to their prescription drug formularies during a policy/contract year. It also requires insurers and HMOs to continue coverage for certain drugs deemed medically necessary by the treating physician and prohibits them from increasing out-of-pocket costs or restricting coverage of those drugs during the policy/contract year. Additionally, the bill requires insurers and HMOs to apply any third-party payment or reduction in out-of-pocket expenses for prescription drugs towards the insured's/subscriber's cost-sharing obligations. The bill also mandates annual reporting on formulary changes and associated cost increases for insureds/subscribers.

Business and Industry

https://www.flsenate.gov/Session/Bill/2020/696