Senate Bill No. 1048 amends the Oklahoma Right to Shop Act by modifying definitions and requirements related to shared savings incentive programs offered by insurance carriers. Key changes include the introduction of the term "average allowed amount," which refers to the mean of all allowed amounts paid for comparable health care services. The bill mandates that insurance carriers shall offer shared savings incentive programs, which provide financial incentives to enrollees who choose lower-cost health care services. Additionally, it requires carriers to provide information about average allowed amounts upon request and to ensure that enrollees' financial liabilities do not exceed in-network costs when opting for services from non-network providers.

The bill also stipulates that incentives must be calculated as a percentage of the difference between the average allowed amount and the amount agreed upon between the enrollee and the provider, ensuring that the incentive is at least 25% of the savings generated. Carriers are required to establish these programs as part of their insurance policies, notify enrollees about the program, and publish a list of comparable health care services and applicable incentives on their websites. The act is set to take effect on November 1, 2025.