NY A03554

Requires the state to use a reverse auction process when contracting with pharmacy benefit managers (PBMs) for health insurance benefits covering state officers and employees

Mandates that all PBM bidders accept a participant bidding agreement specifying common definitions, prescription drug classifications, retail pricing rules including maximum allowable cost price lists, and dispensing fees

Requires PBMs submitting bids to provide complete pharmacy claims data to the president of the civil service commission for conducting the auction and administrative duties

Prohibits PBMs from modifying contract terms without approval from the president of the civil service commission

Requires procurement of a technology platform vendor through competitive bidding at least three months before the reverse auction to evaluate PBM qualifications and host the online automated bidding process