Assembly Bill A7504

2017-2018 Legislative Session

Relates to copayments for prescription drugs

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A7504 (ACTIVE) - Details

See Senate Version of this Bill:
S6254
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §4325, Ins L; amd §6826-a, Ed L
Versions Introduced in 2019-2020 Legislative Session:
S1792

2017-A7504 (ACTIVE) - Summary

Relates to copayments for prescription drugs; provides that no corporation or insurer shall require, or enter into a contract which permits, a copayment which exceeds the total price paid to the pharmacy for such prescribed drug after the insured has met the annual deductible requirement.

2017-A7504 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7504
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 28, 2017
                                ___________
 
 Introduced  by  M.  of  A.  ROSENTHAL  --  read once and referred to the
   Committee on Insurance
 
 AN ACT to amend the insurance law and the education law, in relation  to
   copayments for prescription drugs
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subsection (h) of section 4325 of  the  insurance  law,  as
 added by chapter 487 of the laws of 2010, is amended to read as follows:
   (h) No corporation or insurer organized or licensed under this chapter
 which  provides  coverage for prescription drugs shall require, or enter
 into a contract which permits, a copayment which exceeds the  usual  and
 customary  cost of such prescribed drug OR WHICH EXCEEDS THE TOTAL PRICE
 PAID TO THE PHARMACY FOR SUCH PRESCRIBED DRUG AFTER THE INSURED HAS  MET
 THE ANNUAL DEDUCTIBLE REQUIREMENT.
   §  2.  Section  6826-a of the education law is amended by adding a new
 subdivision 3 to read as follows:
   3. THE COPAYMENT AMOUNT SHALL NOT EXCEED THE TOTAL PRICE PAID  TO  THE
 PHARMACY  FOR THE PRESCRIBED DRUG, EXCEPT IN CASES WHERE THE INSURED HAS
 NOT MET THE ANNUAL DEDUCTIBLE REQUIREMENT.
   § 3. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10881-01-7

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