Requires insurers offering health benefit plans to report specified information to Department of Consumer and Business Services regarding requests for prior authorization.

Creates new requirements and modifies existing requirements applicable to utilization review by insurers offering health benefit plans. Creates new requirements applicable to step therapy requirements imposed by entities providing health insurance, medical services contracts or health care service contracts, multiple employer welfare arrangements and pharmacy benefit managers. Exempts from certain new or modified requirements health benefit plans offered to public employees by Public Employees’ Benefit Board and Oregon Educators Benefit Board.