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Assembly Bill A10475

2021-2022 Legislative Session

Requires the Superintendent of Financial Services to refer the drug insulin to the Drug Accountability Board for examination related to price increases and consumer impact

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Archive: Last Bill Status - In Senate Committee Rules Committee

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2021-A10475 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Financial Services

2021-A10475 (ACTIVE) - Summary

Requires the Superintendent of Financial Services to refer the drug insulin to the Drug Accountability Board for examination related to price increases and consumer impact.

2021-A10475 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10475
 
                           I N  A S S E M B L Y
 
                               May 27, 2022
                                ___________
 
 Introduced  by  COMMITTEE  ON  RULES -- (at request of M. of A. Niou) --
   read once and referred to the Committee on Insurance
 
 AN ACT to require the Superintendent of Financial Services to refer  the
   drug  insulin to the Drug Accountability Board for examination related
   to price increases and consumer impacts
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The Superintendent of Financial Services shall refer insu-
 lin to the Drug Accountability Board. Such board shall examine all forms
 of insulin medications pursuant to paragraph (1) of  subsection  (f)  of
 section  202  of the insurance law and report on its findings, including
 but not limited to:
   (a) the drug's impact on the premium costs for commercial insurance in
 this state and the drug's affordability and value to the public;
   (b) whether increases in the price of the drug over time were  signif-
 icant and unjustified; and
   (c)  pursuant  to  part DDD of chapter 56 of the laws of 2020, examine
 the cap on cost-sharing  for  insulin  related  to  appropriateness  and
 whether such cap is suitable to meet consumer needs.
   §  2.  The Superintendent of Financial Services shall prepare a report
 based on the findings of the Drug Accountability  Board.  Within  twelve
 months  of  the effective date of this act, the Superintendent of Finan-
 cial Services shall:
   (a) publish the report of his or her findings  on  the  department  of
 financial  service's  website  in  a  location  easily accessible to the
 public; and
   (b) deliver a copy of the report to the governor, the temporary presi-
 dent of the senate and the speaker of the assembly.
   § 3. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15990-01-2

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