This bill aims to regulate formulary changes made by health plans during the plan year in Minnesota. It introduces a new section, [62Q.83], to the Minnesota Statutes, which prohibits health plans from removing a drug from their formulary or increasing the cost of a drug for enrollees who have been prescribed that drug during the plan year. Exceptions to this rule include situations where the drug has been deemed unsafe by the FDA, withdrawn by the FDA or manufacturer, or when there are urgent warnings from credible sources regarding the drug's safety. 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 specifies definitions for key terms such as "drug," "enrollee," "formulary," and "health plan," ensuring clarity in its application. The new regulations will take effect on January 1, 2026, and will apply to all health plans offered, sold, issued, or renewed after that date. This legislation seeks to protect enrollees from unexpected changes in their prescription drug coverage and associated costs during the plan year.