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 mandates that group health coverage, individual or group health insurance policies, health maintenance organization contracts, and nonprofit health care plans 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 insured's deductible has been met, unless federal law allows otherwise.

The new legal language introduced in the bill emphasizes the importance of making cholesterol-lowering medications more accessible by eliminating financial barriers for patients. The effective date for these provisions is set for January 1, 2026, allowing time for implementation and adjustment by health care providers and insurers. Overall, the bill aims to enhance health care affordability and improve health outcomes for individuals with cholesterol disorders in New Mexico.