This bill introduces several new provisions related to health insurance in Oklahoma, focusing on cost-sharing requirements, prior authorization processes, and step-therapy protocols for prescription drugs. It establishes definitions for key terms such as "cost sharing," "health benefit plan," and "health care services." The bill mandates that health plans must pay healthcare providers the full amount due for services, collect cost-sharing from insured individuals, and prohibits withholding payments to providers. Additionally, it outlines the responsibilities of health plans regarding prior authorization requests, requiring timely responses and establishing that approvals remain valid for the duration of treatment or up to one year.

Furthermore, the bill includes specific regulations regarding step-therapy protocols, ensuring that insurers cannot require multiple trials of the same medication for patients who are continuously enrolled. It also prohibits prior authorization for generic medications and establishes guidelines for transparency in provider contracts, including the obligation to inform providers about payment terms and any policy changes. Violations of these provisions can result in civil fines imposed by the Insurance Commissioner. The act is set to take effect on November 1, 2025.