The bill amends various sections of the New Mexico Insurance Code and the Health Care Purchasing Act to prohibit cost sharing for cholesterol-lowering drugs across multiple types of health coverage. Specifically, it establishes new provisions that require group health coverage, individual or group health insurance policies, blanket health insurance policies, health maintenance organization contracts, and nonprofit health care plans to provide coverage for cholesterol-lowering drugs without imposing any form of cost sharing. This includes copayments, coinsurance, deductibles, or any other financial obligations beyond premiums.

The bill defines "cost sharing" consistently across the different sections, ensuring clarity in what constitutes financial obligations for enrollees or insured individuals. The effective date for these provisions is set for January 1, 2026, allowing time for implementation and compliance by health care providers and insurers.