CA AB554

Prohibits health care service plans and health insurers from requiring prior authorization or step therapy for antiretroviral drugs, drug devices, or drug products used for HIV/AIDS prevention (including PrEP and PEP), unless at least one therapeutically equivalent version is covered without such requirements

Specifies that long-acting HIV prevention drugs with different durations are not considered therapeutically equivalent, preventing insurers from substituting between products like monthly versus bimonthly injections

Requires nongrandfathered health plans and insurance policies to cover FDA-approved HIV preexposure prophylaxis drugs with zero cost sharing (no copays, deductibles, or coinsurance)

Mandates that insurers covering non-self-administered HIV prevention drugs as a medical benefit must also cover them as an outpatient prescription drug benefit

Exempts Medi-Cal managed care plans from these requirements; allows high deductible health plans to apply the minimum annual deductible if required to maintain federal compliance