This bill aims to regulate formulary changes made by health plans during the plan year in Minnesota. It establishes that a health plan cannot remove a drug from its formulary or increase the cost of a drug for an enrollee who has been prescribed that drug during the plan year. However, exceptions are made for drugs deemed unsafe by the FDA, withdrawn by the FDA or manufacturer, or when there are urgent warnings from credible sources regarding patient safety. Additionally, if a health plan replaces a brand name drug with a therapeutically equivalent generic or multisource brand drug at a lower cost, it can make formulary changes, provided that a 60-day notice is given to prescribers, pharmacists, and affected enrollees.

The new legal language introduced in this bill includes definitions for terms such as "drug," "enrollee," "formulary," "health plan," "pharmacy benefit manager," and "prescription." It also specifies the conditions under which formulary changes can occur and outlines the effective date of the legislation, which is set for January 1, 2026, applying to health plans offered, sold, issued, or renewed on or after that date.