Requires prescription drug coverage for serious mental illness without prior authorization or utilization management, including step therapy.

This bill requires insurance carriers in New Jersey to cover prescription drugs for serious mental illnesses like schizophrenia, bipolar disorder, and PTSD without requiring prior authorization or step therapy. It directly affects individuals with these conditions who need mental health coverage through health plans, ensuring they can access necessary medications without unnecessary administrative hurdles. The law also mandates that insurers report annually on how they develop medical necessity criteria for mental health and substance use disorder treatments, increasing transparency in coverage decisions. Additionally, carriers must provide information about in-plan exceptions when qualified providers are not available in their network.