This 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 establishes 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. The bill defines "cost sharing" and clarifies that these provisions do not apply to excepted benefit plans, catastrophic plans, or high deductible health plans until the deductible has been met, unless federal law allows otherwise.

The new legal language is inserted into multiple sections of the law, creating uniformity across different types of health coverage regarding cholesterol medication costs. The effective date for these provisions is set for January 1, 2026. This legislation aims to enhance access to necessary medications for individuals with cholesterol disorders by eliminating financial barriers associated with their treatment.