NY A10185

Amends Insurance Law sections 3242 and 4329 to require insurers and health corporations to cover brand name prescription drugs at the same cost-sharing level as generic drugs when an AB-rated generic equivalent is unavailable due to a federal FDA-recognized drug shortage.

Applies only to eligible prescription drugs (FDA-approved, not under patent) where the generic equivalent cannot be substituted due to dosage adjustment limitations and the shortage has been officially recognized by the FDA under 21 U.S.C. 356e.

Requires coverage for insured individuals who are already receiving the drug as a generic equivalent or have been diagnosed with a condition prior to the plan year that is treated by the drug.

Brand name drug coverage requirement continues until the supply issue is resolved and the drug is removed from the FDA's shortage list.

Takes effect immediately upon enactment.