This bill proposes new regulations regarding formulary changes for health plans in Minnesota, specifically prohibiting certain changes during the plan year. Under the new section [62Q.83], health plans are not allowed to remove a drug from their formulary or increase the cost of a drug for enrollees who have been prescribed that drug during the plan year. Exceptions to this rule include situations where a drug is deemed unsafe by the FDA, withdrawn by the FDA or manufacturer, or when there are new warnings about the drug's use due to imminent patient harm. Additionally, if a health plan replaces a brand name drug with a therapeutically equivalent generic or multisource brand drug at a lower cost, they may also change the formulary, provided they give a 60-day notice to relevant parties.

The bill includes specific definitions for terms such as "drug," "enrollee," "formulary," and "health plan," ensuring clarity in its application. The effective date for these regulations is set for January 1, 2026, applying to all health plans offered, sold, issued, or renewed on or after that date. This legislation aims to protect enrollees from unexpected changes in their prescription drug coverage and associated costs during the plan year.