Bill > A07142

This bill requires health insurance issuers (including insurers, corporations, and organizations) in New York to pass along at least 85% of prescription drug rebates to patients at the point of sale, effectively reducing the amount patients pay for medications. The bill defines key terms like "rebate" and "price protection rebate", which include various negotiated price concessions from drug manufacturers or pharmacies that reduce the insurance company's costs. Insurance companies must calculate a patient's out-of-pocket costs using a price that reflects these rebates, and they are required to submit an annual certification to the state superintendent confirming their compliance. The bill also includes strict confidentiality provisions that prevent insurers from publicly revealing specific details about their rebate arrangements, protecting the financial and competitive interests of manufacturers and pharmacies. These requirements will apply to all health insurance contracts issued, renewed, or amended on or after January 1, 2025, with the goal of making prescription medications more affordable for patients by directly applying negotiated discounts at the time of purchase.

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https://www.nysenate.gov/legislation/bills/2025/A7142