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SB24-080

Transparency in Health-Care Coverage

Concerning health insurance carrier price transparency requirements.
Session:
2024 Regular Session
Subject:
Health Care & Health Insurance
Bill Summary

The bill requires health insurance carriers (carriers) to comply with federal price transparency laws and to make available an internet-based self-service tool that provides real-time responses to a covered person's questions concerning carrier prices that are based on cost-sharing information.

The bill also requires carriers to submit information required by federal pharmacy benefit and drug cost reporting laws to the commissioner of insurance. A carrier that violates the requirements of the bill engages in an unfair method of competition and an unfair or deceptive act or practice in the business of insurance.
(Note: This summary applies to this bill as introduced.)

Status

Introduced
Under Consideration

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Bill Text

Sponsors

Sponsor Type Legislators
Prime Sponsor

Sen. R. Fields, Sen. S. Jaquez Lewis
Rep. M. Young

Sponsor

Co-sponsor

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The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details