FL S1418

Requires insurers to provide policyholders with 6 months' written notice before terminating or discontinuing a preferred provider from their network and requiring selection of a new provider.

Exempts oncology and psychotherapeutic service providers from the 6-month notice requirement, allowing immediate termination once services are concluded.

Mandates insurers continue paying terminated providers according to original contract terms during the entire 6-month notice period, or until oncology or psychotherapeutic services are concluded.

Applies the same 6-month notice and payment requirements to health maintenance organizations (HMOs) terminating network providers under Florida Statutes section 641.31.

Effective date: July 1, 2012.