MS HB698

Prohibits health insurance plans from modifying an insured's contracted benefit level upon renewal for any prescription drug that was covered and prescribed in the preceding plan year for a medical condition or mental illness

Prohibited modifications include removing drugs from formularies, adding prior authorization requirements, imposing quantity limits or step-therapy restrictions, moving drugs to higher cost-sharing tiers, and increasing copays, coinsurance, or deductibles

Applies to individual and group health insurance policies, HMO contracts, nonprofit corporation service contracts, and self-insured group arrangements covering Mississippi residents

Protections apply when a prescribing provider determines the drug is the most appropriate treatment and the insured was covered on the date immediately preceding renewal

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

Effective date: July 1, 2026