S 1350 (see companion bill A 3693) – New York

Status: Enacted
Year Introduced: 2023
Link: https://nyassembly.gov/leg/?term=2023&bn=S01350

Relates to brand-name drugs with and without an AB generic equivalent; amends the effective date from January to July next succeeding the date on which it shall have become a law. Sections 1-3 provide that the requirement for insurance companies and pharmacy benefit managers to apply third-party payments or other price reduction instruments for out-of-pocket expenses made on behalf of an insured person when calculating the insured individual’s overall contribution shall apply to prescription drugs that are either: a brand-name drug without an AB rated generic equivalent, a brand-name drug with an AB rated generic equivalent and the insured has access to the brand name drug through prior authorization or through the insurers appeal process, or a generic drug the insurer will cover with or without prior authorization or an appeals process.

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