Requires health plan coverage to include certain generic drugs and biosimilars

Summary

The bill amends state insurance law to require that when a generic drug or biosimilar is marketed at a lower wholesale price than its brand counterpart, insurers must place it on their formularies with more favorable out‑of‑pocket costs and cannot use prior authorization or step‑therapy barriers. It applies to all prescription‑drug coverage policies in New York and aims to increase access to lower‑cost medicines for plan members.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share