The bill S.154 aims to establish health insurance and Medicaid coverage for biomarker testing in Vermont. It defines key terms related to biomarker testing, including "biomarker," "biomarker testing," "consensus statements," and "nationally recognized clinical practice guidelines." The bill mandates that the Department of Financial Regulation and the Agency of Human Services analyze the costs associated with requiring health insurance and Medicaid coverage for biomarker testing when supported by medical and scientific evidence. This includes tests approved by the FDA, indicated tests for FDA-approved drugs, and guidelines from recognized clinical practice organizations.

Additionally, the bill requires the Department of Financial Regulation to report by January 15, 2027, on the estimated increase in health insurance premiums if coverage for biomarker testing is mandated, along with the state's financial obligations related to premium increases. The Agency of Human Services is also tasked with reporting on the necessary approvals from the Centers for Medicare and Medicaid for Vermont Medicaid to cover biomarker testing and the associated costs. The act is set to take effect upon passage.