This bill establishes new regulations regarding prescription drug coverage by insurers in Oklahoma. It defines key terms such as "insurer," "practitioner," and "prescription drug," and prohibits insurers from modifying coverage for a prescription drug under specific conditions. These conditions include instances where the drug has been preauthorized, the insured has already received the drug, and the practitioner continues to prescribe it. The bill outlines various forms of coverage modification that are prohibited, such as increasing costs or denying continued coverage.

Additionally, the bill allows for exceptions to this prohibition if the FDA questions the drug's clinical safety or if the manufacturer notifies the FDA of a potential discontinuance. Insurers that violate these provisions will face civil penalties determined by the Insurance Commissioner, who is also tasked with promulgating rules to implement the bill. The act is set to take effect on November 1, 2026.