FL S0182

Prohibits health insurance policies and HMO contracts from removing covered prescription drugs or reclassifying drugs to more restrictive tiers or higher cost-sharing during the policy/contract year, except at coverage renewal.

Allows drug removal only if the FDA issues a safety statement about the drug or the manufacturer notifies the FDA of a manufacturing discontinuance as required by federal law.

Permits the addition of new prescription drugs to coverage during the policy year and does not restrict pharmacist substitution of generic or biological equivalent products.

Requires small employer carriers to comply with the same prescription drug formulary limitation requirements as individual and group health insurance policies.

Exempts grandfathered health plans and certain statutory benefits from these restrictions; effective January 1, 2018.