MS SB2916

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

Requires regulations to address drug formulary filings with the commissioner, continuation of drug coverage, and notice to enrollees of formulary modifications.

Applies to 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 providers.

Defines a drug formulary as a list of prescription drugs for which a health benefit plan provides coverage, approves payment, or encourages prescribers to prescribe through incentives.

Takes effect July 1, 2018 and adds regulations to Chapter 9, Title 83 of the Mississippi Code.