relative to managed care laws.

Bill title and page headers changed from 'AS AMENDED BY THE HOUSE' to 'VERSION ADOPTED BY BOTH BODIES' to reflect the bill's procedural status after both chambers approved it.

The effective date was changed from '60 days after its passage' (a relative timeframe) to a fixed date of January 1, 2027. This provides more time for compliance and removes uncertainty about when the law takes effect.

The fiscal note's 'Agencies Contacted' field was changed from 'Insurance Department' to 'None,' likely reflecting that no additional agency input was needed for the House amendment.

Removed the restriction that health carriers could only modify drug coverage at plan renewal and only if applied uniformly across identical or substantially identical plans.

The bill's title changed from 'limiting changes to prescription drug formularies under health benefit plans' to 'relative to managed care laws,' reflecting the shift from restricting when changes occur to requiring transparency around them.

Removed the requirement that health carriers must continue covering any previously approved prescription drug until the enrollee's plan renewal date, even after removal from the formulary.

Added a requirement that health plans provide written notice in at least 14-point font to covered persons affected by formulary deletions (defined as those who had coverage for the deleted drug in the prior 12 months), including an explanation of the exception process and a toll-free phone number.

Added a requirement that if a covered person uses the exception process, the medication must be covered until the exception is resolved, and any denial of an exceptions request constitutes an adverse determination.

Increased the advance notice period before formulary deletions from 45 days to 60 days, with an exception if the FDA determines the drug is unsafe.

Added record-keeping requirements obligating health benefit plans to maintain and make available to the commissioner: the complete formulary by therapeutic category with preferred drug designations, documentation of all formulary changes (date and reason), the complete maximum allowable cost list for each pharmacy, and documentation of MAC list changes including notification dates to impacted pharmacies.