(a) Notwithstanding § 1301.051, an insurer may not withhold the designation of preferred provider to a podiatrist licensed by the Texas Department of Licensing and Regulation who:
(1) joins the professional practice of a contracted preferred provider;
(2) applies to the insurer for designation as a preferred provider; and
(3) complies with the terms and conditions of eligibility to be a preferred provider.
(b) A podiatrist designated as a preferred provider under this section must comply with the terms of the preferred provider contract used by the insurer or the insurer’s network provider.