The proposed bill amends the Health Care Purchasing Act and various sections of the New Mexico Insurance Code to prohibit cost sharing for medications used in the treatment of cholesterol disorders. Specifically, it mandates that group health coverage, individual or group health insurance policies, health care plans, and health maintenance organization contracts that provide coverage for cholesterol-lowering medications cannot impose any form of cost sharing, which includes copayments, coinsurance, or deductibles. This requirement is applicable to all such plans delivered, issued, or renewed in the state, with certain exceptions for specific types of plans, such as excepted benefit plans, catastrophic plans, and high deductible health plans until the deductible is met.

The bill introduces new legal language across multiple sections, clearly defining "cost sharing" and outlining the types of health plans affected by this legislation. The provisions are designed to ensure that individuals requiring cholesterol-lowering medications can access them without additional financial burdens. The effective date for these changes is set for January 1, 2026.