States that managed care organizations cannot enter into or renew a contract with a preferred provider network that is not licensed in accordance with section 38a-479aa. Requires managed care organizations that contract with a preferred provider network to post and maintain or require the preferred provider network to post and maintain a letter of credit, bond surety, reinsurance, reserve or other financial security acceptance to the insurance commissioner. Requires managed care organizations that contract with a preferred provider network to provide information regarding the amount and method of remuneration to be paid, information to assist the preferred provider network to be informed of any risk assumed, and any other information the insurance commissioner requires. Stipulates the provisions that must be included in a contract between a managed care organization and a preferred provider network.