OK HB4453

Creates the Oklahoma Health Care Cost Transparency Board within the Insurance Department, consisting of 14 members including the Insurance Commissioner as chair, to measure statewide health care cost growth and primary care investment trends across commercial insurance, Medicaid, and Medicare

Establishes an All Payer Claims Database (APCD) to collect and analyze health care costs, utilization, and spending data from commercial insurers, Medicaid, and Medicare

Requires all commercial health insurers to measure and report annual primary care spending using methodology established by the Oklahoma Health Care Authority, with interim benchmarks for 2027-2029 and a final goal by 2030

Grants the Insurance Commissioner authority to require corrective action plans from insurers not meeting benchmarks and impose administrative penalties up to $5,000 per day for willful noncompliance

Requires the Board to publish an annual report on health care cost trends and insurer performance on the Insurance Department website, with the initial report due by December 31, 2027; effective November 1, 2026