AK HB218

Prohibits health insurers from imposing specialty tier copayments, deductibles, or cost-sharing obligations that exceed nonpreferred brand drug amounts unless insurers provide 90 days' advance notice to insured persons.

Establishes legislative findings that specialty drug tiers create prohibitively expensive costs for patients treating serious conditions including cancer, multiple sclerosis, rheumatoid arthritis, hepatitis C, hemophilia, and psoriasis.

Authorizes the director of insurance to formulate regulations establishing a reinsurance program that covers high-risk residents, with losses shared proportionally among association members based on major medical premiums.

Requires all association members to share losses from the high-risk reinsurance program in addition to existing obligations for state plan claims and administrative expenses.

Takes effect January 1, 2013, and applies to health insurance plans offered, issued, delivered, or renewed on or after the effective date.