In Review: PCMA had two meetings last week regarding Governor Kathy Hochul’s (D) budget proposal on PBM transparency. Staff from the Property & Casualty Insurance Committee specifically raised questions about firewalls between PBMs and GPOs but were receptive to points
In Review: The legislature adjourned sine die on June 7. Three PBM-tracked bills were passed by both Houses and will now head to Governor Kathy Hochul (D) for consideration: A.9764/S9040, a bill to add the term “service” to the existing
In Review: A bill requiring PBMs to reimburse pharmacies at the greater of NADAC or their acquisition cost and pay them a $10.18 dispensing fee now has sponsorship in both the Senate and Assembly. S 9570 sponsored by Senator Neil
In Review: The legislature has enacted the state’s budget, ostensibly adopting what was proposed by Governor Kathleen Hochul (D), none of which PCMA took a position on. Lawmakers will now be on break until May 6 where 18 session days
Up Next: PCMA will meet with regulators from DFS on March 22 to discuss feedback on the 2024 PBM annual report. DFS will share an advance copy of the report on Wednesday (expected), and members will need to provide feedback before
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