This bill aims to enhance transparency and fairness in health insurance contracts by prohibiting certain restrictive clauses in provider network contracts. Specifically, it bans all-or-nothing, anti-steering, gag, and most favored nation clauses, which can limit competition and restrict providers' ability to disclose important information about pricing and quality. The bill clarifies that any such clauses included in contracts are void and unenforceable, ensuring that providers cannot amend or renew contracts to include these provisions. Additionally, it establishes definitions for these clauses to provide clarity in enforcement.

Furthermore, the bill imposes a fiduciary duty on general contracting entities when encouraging enrollees to select specific providers, mandating that such encouragement must primarily benefit the enrollee. This legislation is set to take effect on November 1, 2026, and aims to promote a more competitive and transparent healthcare market in Oklahoma.