HI HB261

Requires health insurers offering individual or group accident and health insurance to post formularies on public websites and toll-free numbers starting January 1, 2017.

Mandates 72-hour notice for formulary changes involving new drug additions or deletions, and 14-day notice for other changes like drug strength or form.

Requires insurers to display cost-sharing ranges for covered drugs using a standardized five-tier system ($100 and under through over $1,000).

Establishes a formulary accessibility working group to develop a standard formulary template, with recommendations due 20 days before the 2016 legislative session.

Applies requirements to health insurers, mutual benefit societies, and health maintenance organizations, excluding limited benefit plans and federally financed programs like Medicare and Medicaid.