The proposed bill establishes a new chapter in the Wyoming insurance code focused on physician-administered medication, aiming to enhance patient access to these drugs and related services. It prohibits health insurance issuers and pharmacy benefit managers from taking adverse actions against participating providers who administer covered physician-administered drugs, ensuring that patients are not denied necessary treatments based on the provider's network status. The bill outlines specific definitions related to health insurance plans, covered persons, and physician-administered drugs, and it mandates that any payments for these drugs must align with the established agreements between providers and insurers.

Additionally, the bill amends existing law to include provisions that classify violations of this new chapter as unfair trade practices, subjecting violators to penalties under the Unfair Trade Practices Act. It also requires the Department of Insurance to create rules for the implementation of this act. The effective date for the majority of the provisions is set for July 1, 2024, while certain sections will take effect immediately upon the bill's passage.

Statutes affected:
24LSO-0025 v0.5: 26-13-102