This bill establishes a 60-day special enrollment period for individuals insured by a carrier when a provider within the carrier's network is set to become out-of-network. The special enrollment period will commence 60 days before the expiration of the contract between the carrier and the provider. Additionally, the bill mandates that notice of this special enrollment period be provided to insured individuals in a manner determined by the Department of Banking and Insurance.

The legislation aims to ensure that individuals have the opportunity to make informed decisions regarding their healthcare options when a provider they rely on is leaving their insurance network. By requiring timely notification and a designated enrollment period, the bill seeks to enhance consumer protection and access to necessary medical services. The act is set to take effect immediately upon passage.