MS HB1050

Prohibits health care service plan contracts and health insurance policies issued, amended, or renewed after January 1, 2015, from creating specialty tiers that require patients to pay a percentage cost of prescription drugs.

Caps copayments for medications at 500% of the lowest copayment required by the plan for formulary medications.

Requires plans with out-of-pocket expense limits to either include prescription drug costs under the total limit for all benefits or cap annual prescription drug out-of-pocket costs at $1,000 per insured or $2,000 per family, adjusted for inflation.

Allows health benefit plan issuers to modify drug coverage tiers with at least 60 days' notice to the Commissioner of Insurance, group sponsors, enrollees, and individual plan holders.

Effective July 1, 2014.