This bill mandates that health insurance carriers, including those under the State and School Employees' Health Benefits Plans, as well as the State Medicaid program, provide coverage for family planning and reproductive health care services without any cost-sharing requirements, such as deductibles, copayments, or coinsurance. The services must be provided by in-network health care providers and encompass a range of essential health benefits, including abortion, emergency services for mothers and newborns, family planning counseling, lab tests, genetic counseling, inpatient hospital care, and well-baby medical care. Notably, childbirth is excluded from the definition of covered family planning and reproductive health care services.

Additionally, the bill allows for exemptions to these requirements if the Commissioner of Banking and Insurance or the State Treasurer determines that enforcement may negatively impact the allocation of federal funds to the state. The act is set to take effect 120 days after its enactment, applying to contracts entered into or renewed after that date.