LA SB404

Creates the "Louisiana Vision Plan Transparency and Fair Practice Act" to regulate vision benefit managers and their contracts with eye care providers (optometrists and ophthalmologists)

Prohibits vision benefit managers from requiring eye care providers to participate in multiple plans as a condition of network participation, restricting provider choice of optical laboratories or suppliers, or using extrapolation in audits

Requires fee schedule reimbursements to be at least equal to Medicare rates (or state Medicaid rates when Medicare rates unavailable) and prohibits nominal or de minimis payments for covered services and materials

Mandates transparency disclosures on insurer websites, 90-day notice for contract amendments, standardized credentialing timelines (90 business days for approval decisions), and prohibits virtual credit card payments with processing fees

Establishes private right of action for affected eye care providers with damages up to $10,000 per violation plus attorney fees, with enforcement authority granted to the Department of Insurance and Attorney General