In Review: Amendments to A 4953 were considered and ultimately adopted today in the Assembly Insurance and Financial Institutions committee. PCMA and Prime Therapeutics testified on the amendments and asked the committee to delay further consideration until after the 2023 law has time to take effect. Also raised were concerns about the exorbitant costs expected as a result of the bill and the way that the amendments expand the bill’s scope into ERISA and self-funded markets. Citizen Action also testified opposed to the bill citing a request for the PDAC to consider the impact on consumers. An ERISA attorney from NABIP underwriters association also spoke out against the contracts of adhesion and fiduciary provisions. While Republicans on the committee abstained, the committee voted to adopt the amendments and hold the bill further.

If you have any questions, please contact Heather Cascone at hcascone@pcmanet.org.