MS HB339

Prohibits health insurance plans from modifying the contracted benefit level on renewal for prescription drugs that were covered and prescribed in the immediately preceding plan year for medical conditions or mental illness, if the insured remains covered and the drug is deemed medically necessary by the prescribing provider.

Prohibits specific modifications including removing drugs from formularies, adding prior authorization requirements, imposing or altering quantity limits, imposing step-therapy restrictions, moving drugs to higher cost-sharing tiers, increasing out-of-pocket expenses, and reducing maximum drug coverage amounts.

Permits insurers to remove drugs from coverage if the FDA issues safety statements about the drug, the manufacturer notifies FDA of discontinuance, or the manufacturer removes the drug from the market.

Applies to individual and group health insurance policies, service contracts, health maintenance organizations, self-insured group arrangements, and managed health care delivery entities for policies delivered or renewed on or after July 1, 2024.