SB 1048 Oklahoma Senate · 2026 Regular Session

Shared savings incentive program; requiring insurance carriers to offer certain programs; modifying average allowed amounts; modifying incentive calculations. Effective date.

SB 1048 requires Oklahoma insurance carriers to offer shared savings incentive programs that reward enrollees for choosing health care providers charging less than the carrier's average allowed amount for comparable services. Enrollees receive at least 25% of the savings as a cash payment or credit toward their deductible, calculated based on the difference between the provider's agreed-upon rate and the carrier's average in-network cost. Carriers must disclose average allowed amounts, publish program details online, report participation data to the Insurance Department, and ensure enrollees' out-of-pocket costs remain no higher than in-network rates. The bill applies to all health benefit plans sold in Oklahoma and takes effect November 1, 2025.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 3, 2025 Last action Mar 13, 2025

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What changed between versions

Introduced → Floor (Senate) · 6 edits

MODERATE

The bill was amended from its introduced version to the Senate floor version, incorporating committee amendments that add new requirements for insurance carriers. The most significant changes include a mandate for carriers to publish a list of shared savings incentives on their websites, a requirement that incentives must be at least 25% of the savings generated, and new provisions requiring carriers to provide average allowed amounts upon enrollee request. These changes strengthen consumer protections and increase transparency in the shared savings incentive program.

Scope change

The bill's scope expanded to include additional consumer notification and transparency requirements that were not present in the original introduced version.

REQUIREMENT

Added requirement for insurance carriers to publish on their websites a list of comparable health care services, providers, and the specific shared savings incentive amount applicable for each service.

Added minimum threshold requiring shared savings incentives to be no less than 25% of the savings generated by enrollee participation.

Added requirement for carriers to provide enrollees with the average allowed amount for covered services upon request.

Modified incentive calculation language to allow for percentage-based calculations, flat dollar amounts, or other methodologies approved by the Insurance Department.

DEFINITION

Modified definition of 'Shared savings incentive' to clarify it is a voluntary and optional financial incentive that carriers may provide to enrollees.

Modified definition of 'Shared savings incentive program' to clarify it is an optional program established by carriers pursuant to the Oklahoma Right to Shop Act.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 27, 2025

Upper · Passed

Reported Do Pass Business and Insurance committee; CR filed

upper

Feb 3, 2025

Introduced

First Reading

upper

2 primary · 0 co-sponsors