The proposed bill aims to limit the ability of healthcare insurers to recoup payments for healthcare services beyond a one-year period after the initial payment was made. It introduces a new subchapter, "Recoupment," to the Arkansas Code, which defines key terms such as "covered person," "health benefit plan," "healthcare insurer," "healthcare provider," and "recoupment." The bill stipulates that, except in cases of fraud, insurers can only exercise recoupment within 365 days of payment and must provide written notice to healthcare providers detailing the basis for the recoupment, including the right to appeal.

Additionally, the bill outlines specific conditions under which recoupment cannot be exercised, such as when a healthcare provider has verified a patient's coverage in good faith. It mandates that insurers must provide detailed documentation when exercising recoupment, including the amount, patient information, and reasons for the recoupment. Failure to comply with these provisions would subject healthcare insurers to penalties under the Trade Practices Act. Overall, the bill seeks to enhance transparency and fairness in the recoupment process for healthcare providers.