This bill mandates that health insurance carriers, including those under the State and School Employees' Health Benefits Programs, as well as the State Medicaid program, provide coverage for family planning and reproductive health care services without any cost-sharing requirements. This includes services such as abortion, emergency medical services for mothers and newborns, family planning counseling, lab tests, genetic testing, inpatient hospital care, and well-baby medical care. However, childbirth is explicitly excluded from these covered services. The coverage is applicable only when services are provided by in-network health care providers.

Additionally, the bill stipulates that for high-deductible health plans associated with health savings accounts, the cost-sharing must be set at a minimum level to allow for tax-exempt contributions and withdrawals. The Commissioner of Banking and Insurance and the State Treasurer have the authority to grant exemptions to these requirements if enforcing them could negatively impact the allocation of federal funds to the state. The act is set to take effect 120 days after enactment, applying to contracts entered into or renewed after that date.