A new bill requires insurance companies operating in Texas to make costs and coverage more readily available for consumers online, according to the Houston Chronicle.
Here are five facts:
1. Rep. John Smithee (R-District 68) sponsored the regulations, which were included in House Bill 1624.
2. The bill requires insurance companies to have updated information online concerning which drugs are covered in each plan in addition to the cost of each drug.
3. Insurance companies also have to state which healthcare providers accept the coverage.
4. The bill aims to help residents with chronic conditions by choosing the best medication based on cost and coverage.
5. An official from the Texas Department of Insurance stated the agency is working to develop a template for all insurance companies to use in disclosing information about medication coverage in each plan.
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