The bill amends Arkansas Code 23-99-1114 to exclude antipsychotic prescription drugs from step therapy requirements in health benefit plans. Specifically, it prohibits insurance policies from mandating that individuals with psychosis or serious mental illness undergo step therapy before accessing these medications, provided that the policy covers treatment for these conditions. The bill also retains provisions related to metastatic cancer treatment, ensuring that patients are not limited in their access to FDA-approved drugs.

Additionally, the bill introduces definitions for key terms such as "psychosis," which includes conditions affecting the mind and leading to delusions or hallucinations, and "serious mental illness," which refers to disorders that significantly impair daily functioning. It also clarifies that if a generic equivalent of a name brand antipsychotic drug is available, it is not considered step therapy to allow coverage for both the generic and the brand-name drug.