Requires prescription drug coverage for serious mental illness without prior authorization or utilization management, including step therapy.

This bill requires health insurance plans in New Jersey to cover prescription drugs for "serious mental illness" (including schizophrenia, bipolar disorder, major depression, and PTSD) without prior authorization or step therapy protocols. It directly affects individuals with these diagnoses who rely on insurance for mental health medications. Key provisions ban insurers from forcing patients to try lower-cost treatments first (step therapy) or requiring pre-approval for covered medications. The bill also mandates insurers to report how they apply medical necessity standards for mental health coverage to ensure parity with physical health benefits. This creates immediate, concrete changes to medication access for covered mental health conditions.