The bill establishes a Naloxone Purchase Trust Fund within the Commonwealth to support a universal purchase system for the distribution of opioid antagonists, specifically naloxone, aimed at reversing opioid overdoses. It amends Chapter 111 of the General Laws by inserting a new section that defines key terms related to opioid antagonists and outlines the fund's purpose, funding sources, and expenditure guidelines. The fund will consist of money transferred from the executive office of health and human services, voluntary contributions, and interest earnings. It will be managed by the commissioner of the department, who will report annually on the fund's financial activities to relevant legislative committees.

Additionally, the bill amends Chapter 118E to include definitions related to the opioid antagonist revenue amount and modifies existing definitions to incorporate the new trust fund. It specifies that the opioid antagonist revenue amount will be considered in the managed care organization services assessment. The bill also includes provisions for the secretary of health and human services to seek necessary federal approvals for implementation, ensuring that the new measures comply with federal regulations. The changes will take effect only after all required federal approvals are obtained.