This bill mandates that health plans in Minnesota must cover all over-the-counter contraceptives that are approved by the United States Food and Drug Administration (FDA). It defines "over-the-counter contraceptive" as any contraceptive that can be purchased without a prescription in Minnesota and has received FDA approval as a nonprescription drug. The bill also includes a provision that allows health plans to exclude coverage for a specific over-the-counter contraceptive during the benefit year in which it is first approved by the FDA.

Additionally, the bill stipulates that the required coverage for these contraceptives must be provided without any cost-sharing, such as deductibles, co-pays, or coinsurance, and cannot impose limitations that are not generally applicable to other coverages under the health plan. The effective date for this legislation is set for January 1, 2025, applying to all relevant policies, plans, certificates, and contracts offered, issued, or renewed after that date.