Requires health insurance commissioner/Medicaid director convene a working group to develop models for reforming payment for healthcare insurers based on advanced value-based payment with annual reports to general assembly

Regulates price increases for prescription drugs.

Requires the attorney general to contract and work with a third-party auditor to analyze the practices of pharmacy benefit managers doing business in the state.

Defines step therapy and prohibit certain groups and agreements from requiring prior authorization or a step therapy protocol when prescribing certain medications.

Requires prescription drug manufacturers to file a detailed, updated list of each pharmaceutical sales representative engaged by the manufacturer and to pay an annual fee for each name on list.

A prescription drug advisory board is created to evaluate drug prices in an attempt to make them more affordable.

Includes any costs paid by an enrollee or on behalf of the enrollee by a third party when calculating an enrollee’s overall contribution to any out-of-pocket maximum or cost sharing requirement under a health plan as of January 1, 2024

Includes any costs paid by an enrollee or on behalf of the enrollee by a third party when calculating an enrollee’s overall contribution to any out-of-pocket maximum or cost sharing requirement under a health plan as of January 1, 2024

Guarantees availability of coverage to eligible residents of state and does not limit or exclude coverage by imposing a preexisting condition exclusion.