Florida S1166 mandates insurer disclosures on prescription drug coverage changes and cost-sharing requirements.

Florida S1166 requires insurers to notify current and prospective insureds and their treating physicians of prescription drug formulary changes at least 60 days in advance. Insurers must also disclose on their websites and in policy documents that payments for prescription drugs must be applied toward the insured's total contribution to any cost-sharing requirement. The bill mandates that insurers and pharmacy benefit managers apply payments for prescription drugs toward cost-sharing requirements under certain conditions.

Florida S1166 mandates insurer disclosures on prescription drug coverage changes and cost-sharing requirements.

Florida S1166 requires insurers to notify current and prospective insureds and their treating physicians of prescription drug formulary changes at least 60 days in advance. Insurers must also disclose on their websites and in policy documents that payments for prescription drugs must be applied toward the insured's total contribution to any cost-sharing requirement. The bill mandates that insurers and pharmacy benefit managers apply payments for prescription drugs toward cost-sharing requirements under certain conditions.