HB698

Mississippi HB698 prohibits health insurance plans from modifying contracted benefit levels for covered prescription drugs on renewal.

Mississippi HB698 aims to prevent health insurance plans from altering the contracted benefit level for any prescription drug that was approved or covered under the plan in the previous year and prescribed for a medical condition or mental illness. Prohibited modifications include removing a drug from a formulary, adding prior authorization requirements, imposing quantity limits, step-therapy restrictions, moving a drug to a higher cost-sharing tier, increasing out-of-pocket expenses, and reducing the maximum drug coverage amount.