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NY A06764
Bill
Status
3/12/2025
Primary Sponsor
David Weprin
Click for details
AI Summary
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Expands annual reporting requirements for pharmacy benefit managers (PBMs) to the superintendent of insurance, adding detailed disclosure of rebates and payments from drug manufacturers
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Requires PBMs to report the aggregated dollar amount of rebates, fees, price protection payments, and other payments received from drug manufacturers through rebate contracts
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Mandates disclosure of how rebate amounts are allocated, specifically the portions passed on to health plans versus retained by the PBM
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Requires detailed reporting on each rebate contract including contracting parties, contract terms, drug names and national drug codes, formulary placement terms, volume requirements, and prescriptions filled
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Defines "rebate contract" as any agreement between a PBM and drug manufacturer that determines rebates, discounts, fees, or other price concessions related to prescription drug dispensing
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Takes effect 180 days after becoming law
Legislative Description
Requires certain information to be included in every pharmacy benefit manager's annual report to the superintendent such as the aggregated dollar amount of rebates, fees, price protection payments and any other payments the pharmacy benefit manager received from drug manufacturers through rebate contract, the amount of certain allocations, and information on rebate contracts.
Last Action
referred to insurance
1/7/2026