INSURANCE/HEALTH: Provides relative to formulary placement and cost-sharing requirements for certain generic drugs and biosimilars (EN NO IMPACT See Note)

The bill header was changed from 'ENROLLED' to 'ORIGINAL' and the bill number was updated to reflect the original draft status.

Minor text edits were made to remove redundant phrases like 'any other drug sharing its reference listed drug' to streamline the requirements.

The bill title was shortened to remove specific references to amending existing statutes, focusing instead on the new requirements for generic drugs and biosimilars.

Definitions for 'Biosimilar' and 'Generic drug' were slightly reworded for clarity but retain the same legal meaning.

The bill title was updated to explicitly list the new provisions, including confidentiality and public records exceptions, which were not detailed in the reengrossed version.

New definitions were added for 'Generic drug' and 'Reference listed drug' to clarify the specific categories of drugs covered by the new requirements.

The requirements for biosimilars were updated to require coverage of 'at least one biosimilar' rather than implying all, and the comparison for cost-sharing was adjusted to compare against the 'reference product' instead of the 'reference listed drug'.

A new provision was added allowing health insurance issuers to use 'net cost calculation' (wholesale acquisition cost minus rebates and discounts) instead of just wholesale acquisition cost for determining formulary placement.

A new requirement mandates that health insurance issuers notify the commissioner in writing within thirty days if they choose to use the net cost calculation for any branded prescription drug.

Updated the prohibition on pharmacy restrictions to explicitly cover 'biosimilar drugs' alongside generic drugs, ensuring equal protection against access barriers for both drug types.

Corrected the page count from 4 to 5 and reorganized the document header and digest section to reflect the Reengrossed status.

Standardized the formatting of U.S. Code citations by removing section symbols (e.g., changing '§262(k)' to '262(k)') throughout the text.