Establishes arbitration and notification process for health insurance carriers and provider networks when dispute arises over maintaining providers.

The bill establishes a binding arbitration process for disputes between health insurance carriers and provider networks over pricing and reimbursement. If negotiations fail, either party can initiate arbitration. The arbitrator's decision must be one of the final offers submitted by the parties and must be issued within 30 days. The bill also mandates that if a dispute remains unresolved 60 days before a contract's expiration and arbitration is not initiated, arbitration will be automatically triggered.

Establishes arbitration and notification process for health insurance carriers and provider networks when dispute arises over maintaining providers.

The bill establishes a binding arbitration process for disputes between health insurance carriers and provider networks over pricing and reimbursement. If negotiations fail, either party can initiate arbitration. The arbitrator's decision must be one of the final offers submitted by the parties and must be issued within 30 days. The bill also mandates that if a dispute remains unresolved 60 days before a contract's expiration and arbitration is not initiated, arbitration will be automatically triggered.