FL S1242

Requires insurers and health maintenance organizations to offer mental health coverage for specific disorders (schizophrenia, psychotic disorders, mood disorders, anxiety disorders, substance abuse disorders, eating disorders, and attention deficit disorders) with benefits no less favorable than physical illness coverage.

Establishes minimum mental health benefits including inpatient hospital coverage of at least 45 days per benefit year, outpatient benefits of 60 visits per benefit year, and partial hospitalization services under physician direction.

Allows insurers to use financial incentives, peer review, utilization requirements, and other benefit management methods to reduce service costs without compromising quality of care.

Exempts group health plans from these requirements if compliance would increase costs by more than 2 percent, as certified by an independent actuary to the Office of Insurance Regulation.

Requires the Office of Insurance Regulation to submit a report to the Legislature by January 1, 2016, on the financial impact of the act and compliance by insurance plans with mental health parity requirements.