Oklahoma Senate Bill SB912

Oklahoma 2024 Regular Session

• Introduced: 2/6/23
• Refer: 2/7/23

Caption

Oklahoma Right to Shop Act; defining term; updating statutory references and conforming language. Effective date.

Impact

The act seeks to enhance consumer participation in healthcare spending, potentially changing the dynamics of how enrollees approach healthcare providers. By instituting a system where patients are rewarded for selecting less expensive options, the bill is expected to drive competition among healthcare providers to reduce costs. Insurance carriers will be required to clearly communicate the structure of these incentives and ensure transparency in the service listings available to enrollees.

Summary

Senate Bill 912, known as the Oklahoma Right to Shop Act, proposes amendments to existing healthcare regulations by establishing a shared savings incentive program for health benefit plan enrollees. This program allows enrollees to receive financial incentives from their insurance carriers when they choose comparable health services that cost less than average rates paid within the network. It aims to empower consumers to make informed choices about their healthcare while encouraging cost-effective decision-making in treatment options.

Contention

While proponents see this as a step toward more consumer-driven healthcare, critics are concerned about the implications of incentivizing cost over quality. There are worries that such incentives could lead patients to opt for cheaper services that may not always provide the best outcomes, thereby compromising patient care standards. The bill also raises questions about regulatory oversight and the potential burden on insurance carriers regarding program implementation and reporting requirements.