The bill, known as the Patient's Right to Save Act, establishes shared savings programs maintained by health insurers to incentivize enrollees to choose lower-cost, high-quality healthcare services. It defines key terms such as "healthcare entity," "health insurer," and "shoppable healthcare service," and outlines the responsibilities of health insurers in implementing these programs. Insurers are required to notify enrollees about the program, publish a list of shoppable services, and provide a shared savings incentive amount that is at least 25% of the savings generated by the enrollee's participation. The bill also mandates that insurers report annually to the Kansas Department of Insurance on the program's participation and financial outcomes.

Additionally, the bill specifies that shared savings incentives will not be considered administrative expenses for rate development and will not constitute unfair or deceptive practices. The Department of Insurance is authorized to adopt necessary rules and regulations for the implementation and enforcement of the act. Overall, the legislation aims to enhance consumer choice and reduce healthcare costs by encouraging patients to seek more affordable healthcare options.