Bill > S642

This bill aims to empower health care consumers by requiring insurance plans to provide more transparent information about their prescription drug formularies. The key provisions include: 1) Requiring plans to provide clear notices to enrollees about whether they use a formulary, how the formulary is determined, and how often it is reviewed. 2) Mandating plans to post their formularies online in a searchable format and update them within 72 hours of any changes. 3) Specifying that formularies must disclose any prior authorization, step therapy, or utilization management requirements, tier-based copays, and cost-sharing information for drugs covered under the medical benefit. 4) Directing the Division of Insurance to develop a standard template for plans to use in displaying their formulary information.

Business and Industry, Health and Social Services

https://malegislature.gov/Bills/192/S642