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. This provision aims to give insured individuals the opportunity to make necessary changes to their health coverage in light of the provider's status change.

Additionally, the bill mandates that the Department of Banking and Insurance will determine the form and manner in which notice of the special enrollment period is communicated to the insured individuals. The act is set to take effect immediately upon passage.