The bill aims to address the rising costs of healthcare in Washington State by prohibiting certain contractual provisions that contribute to high healthcare prices. It identifies issues such as the consolidation of healthcare providers and the resulting market power that leads to increased costs for consumers. The legislation specifically targets "all-or-nothing clauses," "antisteering clauses," and "antitiering clauses" in provider contracts, declaring them void and unenforceable. The Attorney General is granted the authority to enforce these provisions under the state's consumer protection laws, emphasizing that violations are considered unfair or deceptive acts in trade.

Additionally, the bill mandates that providers and health carriers engage in good faith negotiations when contracts are expiring or terminating, and it restricts providers from making public statements about potential terminations until 30 days before the effective date. This aims to ensure transparency and protect consumer interests during contract negotiations. Overall, the legislation seeks to enhance competition in the healthcare market and mitigate the financial burden on consumers by regulating provider contracting practices.