Require prescription drug coverage by health plan issuers

HB 699 requires health insurance plans sold in Ohio to cover all prescription drugs approved by the U.S. Food and Drug Administration (FDA) for a patient's specific condition, provided the drug is recognized by an approved medical reference or peer-reviewed literature. It mandates coverage for all medically necessary services related to administering the drug, prohibits denials based solely on a drug's legal status, and exempts experimental drugs not FDA-approved for the condition or drugs contraindicated by the FDA. This directly affects health insurance issuers and policyholders by ensuring access to covered prescription drugs for diagnosed conditions. The bill does not require coverage for drugs not approved by the FDA or those deemed unsafe for the condition.