Bill > A5743

Introduced Session

This bill requires carriers to pass prescription drug savings on to consumers. The bill provides that all compensation paid by a pharmaceutical manufacturer to a pharmaceutical benefits manager as a result of negotiations of a reduced price for a pharmaceutical between a pharmacy benefits manager and a manufacturer, in relation to a contract between a pharmacy benefits manager and a carrier related to its prescription drug benefits, shall be remitted to and retained by the carrier and must be used by the carrier to lower the premium for covered persons under the carrier's health benefits plan. In addition, the bill provides that a carrier shall annually file with the commissioner a report demonstrating how the carrier has complied with the provisions of the bill. Under the bill, "compensation" is defined as any direct or indirect financial benefit, including, but not limited to, rebates, discounts, credits, fees, grants, charge-backs, or other payments or benefits of any kind.

Committee Categories

Roy Freiman (D)*,  John McKeon (D)*,  Valerie Vainieri Huttle (D)*,  Robert Karabinchak (D),  Lisa Swain (D),  Chris Tully (D),  Anthony Verrelli (D), 

Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 08/23/2019)

Official Document