The bill amends Chapter 176O of the General Laws by adding a new section, Section 31, which outlines specific definitions and requirements related to consumer deductibles in health insurance. Key terms defined include "Insurer," "Cost sharing requirement," "Enrollee," "Health plan," "Health care service," and "Person." The bill mandates that when calculating an enrollee's contribution to cost sharing requirements, insurers must include any amounts paid by the enrollee or on their behalf. Additionally, any cost sharing reductions must be applied fully at the time of service towards the enrollee's out-of-pocket costs, deductible, or similar obligations.

Furthermore, the bill stipulates that for health plans that are entered into, amended, extended, or renewed on or after January 1, 2026, insurers must include expenditures for any health care service covered by the enrollee's health plan when calculating contributions to the annual limitation on cost sharing. The Commission is also granted the authority to create rules and regulations necessary for the implementation of this section.