The bill amends the Oklahoma Right to Shop Act by updating definitions and clarifying the obligations of insurance carriers regarding shared savings incentive programs. Notably, it introduces the term "Average allowed amount," which refers to the mean of all allowed amounts paid for comparable health care services. The bill also modifies the definition of "Shared savings incentive" from a voluntary option to a mandatory requirement for insurance carriers to provide financial incentives to enrollees who choose certain health care services. Additionally, it specifies that carriers must offer these programs and outlines the conditions under which enrollees can receive incentives, including ensuring that their financial liability does not exceed in-network costs.

Furthermore, the bill mandates that insurance carriers establish shared savings incentive programs as part of their policies, notify enrollees about the program, and publish relevant information on their websites. It requires carriers to provide enrollees with the average allowed amount for covered services upon request and to credit or pay out shared savings incentives at least quarterly. The bill also stipulates that enrollees are not obligated to participate in these programs. The effective date for these changes is set for November 1, 2025.