MS HB787

Prohibits health insurance plans from modifying benefit levels for prescription drugs upon policy renewal if the drug was covered and prescribed in the previous plan year for a medical condition or mental illness

Applies to individual and group health insurance policies, HMOs, self-insured arrangements, and managed care entities delivered, issued, or renewed on or after July 1, 2022

Prohibited modifications include: removing drugs from formulary, adding prior authorization requirements, imposing quantity limits or step-therapy restrictions, moving drugs to higher cost-sharing tiers, increasing copays/deductibles, and reducing maximum coverage amounts

Protections apply when the insured was continuously covered, a physician prescribed the drug, and the physician and patient determined the drug is the most appropriate treatment

Insurers may still remove drugs or deny coverage if the FDA raises safety concerns, the manufacturer discontinues production, or the drug is removed from the market