This bill establishes new requirements for calculating an enrollee's contribution toward cost-sharing and out-of-pocket maximums in health insurance plans, as outlined in a new section of Minnesota Statutes, chapter 62Q. It defines key terms such as "cost-sharing," which includes co-pays, coinsurance, and deductibles, and specifies that health plan companies and pharmacy benefit managers must account for any amounts paid by or on behalf of an enrollee when determining their overall contribution. Additionally, the bill includes provisions that address situations where the application of these calculations may affect an enrollee's eligibility for health savings accounts or catastrophic health plans, stating that the calculations will only apply after the enrollee has met their plan deductible in such cases.

The bill also sets an effective date of January 1, 2027, meaning that these requirements will apply to health plans that are offered, issued, or renewed on or after this date. This legislative change aims to enhance transparency and fairness in how health insurance costs are calculated for enrollees, ensuring that all contributions are accurately reflected in their cost-sharing obligations.