An insurer issuing a managed care plan shall provide to the health care provider, when contracting or renewing an existing contract with provider, the payment or fee schedules or other information sufficient to enable the health care provider to determine the manner and amount of payments under the contract prior to final execution or renewal of the contract. Such information shall include relevant description of processes and factors that may affect actual payment, including copayments, coinsurance, deductibles, risk sharing arrangements, and liability of third parties.