HB3964: Relating to health insurance contract negotiations.

Legislative Summary

This Act makes a process for some health insurers and some health providers to choose to mediate and arbitrate when they are not able to agree on a new contract. Tells the Governor to make the final decision and permits penalties. (Flesch Readability Score: 60.1). Establishes a voluntary mediation and arbitration process that certain health insurers and providers may participate in if the insurer and provider are unable to reach an agreement during a contract renewal negotiation. Establishes that the Governor, or a designee, shall issue a final determination in the arbitration process and may impose penalties for failure to comply.