NY A01500

Requires health insurance policies that cover prescription drugs to include coverage for medically necessary infant and baby formulas prescribed by a physician or licensed health care provider.

Establishes minimum annual coverage of at least $3,000 for infant and baby formulas for any insured individual for any calendar year or continuous 12-month period.

Specifies that covered formulas must be prescribed for disease-specific treatment of conditions including inherited amino acid or organic acid metabolism disorders, Crohn's Disease, gastroesophageal reflux, gastrointestinal motility disorders, and severe food allergies.

Applies the coverage requirement to insurance policies, health maintenance organization policies, and health maintenance organization contracts that provide prescription drug coverage.

Takes effect January 1st following the date the bill becomes law and applies to all policies and contracts issued, renewed, modified, altered, or amended on or after that date.