CT SB00373

Prohibits health insurers from removing covered prescription drugs from formularies or reclassifying drugs into higher cost-sharing tiers during the policy term, effective January 1, 2017

Allows drug removal only if the Food and Drug Administration or peer-reviewed medical literature recognized by the relevant medical community identifies the drug as no longer safe and effective

Permits insurers to add new prescription drugs to formularies during the policy term without affecting existing covered drugs or their cost-sharing classifications

Applies to individual and group health insurance policies covering outpatient prescription drugs under specified coverage types

Amends Connecticut General Statutes sections 38a-492f and 38a-518f