MS HB873

Authorizes the Commissioner of Insurance to adopt rules and regulations governing prescription drug coverage through drug formularies in health benefit plans offered in Mississippi.

Requires regulations to address filing drug formularies with the Commissioner, continuation of drug coverage, and notice to enrollees about modifications to covered drugs.

Applies to group and individual health benefit plans offered by insurance companies, health maintenance organizations, prepaid hospital or medical care plans, multiple employer welfare arrangements, and other state-regulated insurance plans.

Defines "drug formulary" as a list of prescription drugs that a health benefit plan covers, approves for payment, or encourages physicians to prescribe through incentives.

Takes effect July 1, 2018.