Assembly Actions -
Senate Actions - UPPERCASE
|Jan 03, 2024
referred to insurance
|Nov 27, 2023
referred to rules
Senate Bill S7768
2023-2024 Legislative Session
Current Bill Status - In Senate Committee Insurance Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2023-S7768 (ACTIVE) - Details
2023-S7768 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7768 SPONSOR: HINCHEY TITLE OF BILL: An act to amend the insurance law, in relation to prescription drug formulary coverage for interchangeable biologics and biosimilars PURPOSE: To reduce prescription drug costs in New York by allowing biosimilar medicines to be substituted for the original biologics. SUMMARY OF PROVISIONS: Section one amends section 4903 of the Insurance law to add both inter- changeable biologics and biosimilars to New York's step therapy proto- col, allowing utilization review agents to require an insured to try an interchangeable biologic or biosimilar medication before covering the name brand drug. Section two amends section 3242 of the Insurance law to allow insurance
2023-S7768 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7768 2023-2024 Regular Sessions I N S E N A T E November 27, 2023 ___________ Introduced by Sen. HINCHEY -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the insurance law, in relation to prescription drug formulary coverage for interchangeable biologics and biosimilars THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 4 of subsection (c-1) of section 4903 of the insurance law, as added by chapter 512 of the laws of 2016, is amended to read as follows: (4) The insured is stable on a prescription drug or drugs selected by their health care professional for the medical condition under consider- ation, provided that this shall not prevent a utilization review agent from requiring an insured to try an AB-rated generic equivalent, AN INTERCHANGEABLE BIOLOGICAL PRODUCT , OR BIOSIMILAR prior to providing coverage for the equivalent brand name prescription drug or drugs; or § 2. Subparagraph (A) of paragraph 3 of subsection (c) of section 3242 of the insurance law, as added by chapter 99 of the laws of 2022, is amended to read as follows: (A) An insurer with a formulary that includes two or more tiers of benefits providing for different deductibles, copayments or coinsurance applicable to prescription drugs in each tier may move a prescription drug to a tier with a larger deductible, copayment or coinsurance if an AB-rated generic equivalent [or], AN interchangeable biological product, OR BIOSIMILAR for such prescription drug is added to the formulary at the same time. § 3. Subparagraph (A) of paragraph 3 of subsection (c) of section 4329 of the insurance law, as added by chapter 99 of the laws of 2022, is amended to read as follows: (A) A corporation with a formulary that includes two or more tiers of benefits providing for different deductibles, copayments or coinsurance applicable to prescription drugs in each tier may move a prescription EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11861-01-3
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