AZ SB1420

Health insurers offering or renewing plans on or after January 1, 2017 must post formularies on their websites in an accessible and searchable format for enrollees, potential enrollees, and providers.

Formularies must be updated within 24 hours of any changes and include utilization management requirements (prior authorization, step therapy, quantity limits) for each drug.

Cost-sharing information must be displayed for each drug in standardized ranges (under $100; $100-$250; $251-$500; over $500) for both in-person pharmacy and mail-order options using symbols and legends.

Formularies must use a standardized template organized by United States Pharmacopeia therapeutic classes, listed alphabetically, with a separate list for drugs treating serious illnesses covered under medical benefits.

Health insurers must attest to the director within 30 days of offering or renewing a plan that they have complied with these requirements, and the director may adopt rules to implement the section.