NY A01428

Requires health insurers to cover brand name prescription drugs when an FDA-recognized drug shortage or supply disruption affects the generic equivalent on their formulary

Coverage mandate applies when the generic drug is unavailable, the dosage cannot be adjusted, and the insured is already receiving the generic or has a condition requiring the medication

Brand name drugs must be covered at the same cost-sharing level as the generic would have been covered under the insurer's formulary

Coverage continues until the supply issue is resolved and the drug is removed from the FDA's shortage list

Amends Insurance Law sections 3242 and 4329 to apply these requirements to both general insurers and health corporations, effective immediately