The bill proposes amendments to the General Laws by adding new sections that mandate an increase in the reimbursement rate for physicians from health insurers. Specifically, it requires that every individual or group health insurance contract, plan, or policy delivered, issued for delivery, or renewed in the state on or after January 1, 2024, must increase the rate of reimbursement for each in-network health care service that is currently reimbursed below the average rates set by Connecticut and Massachusetts. The Office of Health Insurance Commissioner (OHIC) is tasked with determining the increase based on a review and analysis of the reimbursement rates in those two states. The rate of reimbursement will be adjusted annually to align with the average rates set by Connecticut and Massachusetts.

The bill affects various chapters of the General Laws, including those related to Accident and Sickness Insurance Policies, Nonprofit Hospital Service Corporations, Nonprofit Medical Service Corporations, and Health Maintenance Organizations. The new sections to be added are 27-18-91, 27-19-83, 27-20-79, and 27-41-96, respectively, all of which contain identical language regarding the increase in physicians' reimbursement rates. The act is set to take effect immediately upon passage. The legislative council explains that the act aims to annually increase the rate of physicians' reimbursement for in-network health care services that are below the average rates of Connecticut and Massachusetts, with the OHIC determining the increase.