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 the Department of Banking and Insurance will determine the form and manner in which notice of this special enrollment period is communicated to insured individuals.

The legislation aims to ensure that individuals have the opportunity to make informed decisions regarding their healthcare coverage in light of changes to their provider's network status. By requiring timely notification and a designated enrollment period, the bill seeks to enhance consumer protection and access to necessary medical services.