New York A 2126: Establishes a pilot program on upper payment limits for prescription drugs

Bill Text

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A02126 Summary:

BILL NOA02126A

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SAME ASSAME AS S01351-A

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SPONSORShrestha

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COSPNSRMitaynes, Bichotte Hermelyn, Gallagher, Levenberg, Colton, Simon, Rosenthal, Reyes, Clark, Lupardo,
 Burdick, Seawright, Steck, Epstein, Brown K, DeStefano, Forrest, Simone, Santabarbara, Raga, Tapia,
 Jacobson, Burroughs, Romero, Griffin, Gonzalez-Rojas, Hevesi, Ramos, Moreno, Valdez

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MLTSPNSR

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Add §111-b, Ins L

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Establishes a pilot program on the referenced rate for prescription drugs; relates to reducing the cost of prescription drugs by establishing maximum wholesale drug prices that are the same as the prices in Canada.

Go to top A02126 Actions:

BILL NOA02126A

&nbsp

01/15/2025referred to insurance

01/07/2026referred to insurance

01/27/2026amend and recommit to insurance

01/27/2026print number 2126a

Go to topA02126 Committee&nbspVotes:

Go to topA02126 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA02126 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2126--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 15, 2025
 ___________

 Introduced by M. of A. SHRESTHA, MITAYNES, BICHOTTE HERMELYN, GALLAGHER,
 LEVENBERG, COLTON, SIMON, ROSENTHAL, REYES, CLARK, LUPARDO, BURDICK,
 SEAWRIGHT, STECK, K. BROWN, DeSTEFANO, FORREST, SIMONE, SANTABARBARA,
 RAGA, TAPIA, JACOBSON, BURROUGHS, ROMERO, GRIFFIN -- read once and
 referred to the Committee on Insurance -- recommitted to the Committee
 on Insurance in accordance with Assembly Rule 3, sec. 2 -- committee
 discharged, bill amended, ordered reprinted as amended and recommitted
 to said committee

 AN ACT to amend the insurance law, in relation to requiring a referenced
 rate for prescription drugs

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The insurance law is amended by adding a new section 111-b
 2 to read as follows:
 3 § 111-b. Pilot program on referenced rate for prescription drugs.
 4 (a) Legislative findings and declaration; statement of policy. The
 5 legislature hereby finds and declares that access to prescription drugs
 6 is necessary for the public health, general welfare, and economy of the
 7 state:
 8 (1) New Yorkers pay as much as three times more than what Canadians
 9 pay for prescription drugs, and such excessive prices negatively impact
 10 the ability of New York residents to obtain prescription drugs, thereby
 11 endangering the health and safety of New Yorkers to maintain or achieve
 12 good health;
 13 (2) Excessive prices for prescription drugs threaten the economic
 14 well-being of New York residents and endanger their ability to pay for
 15 other necessary and essential goods and services including housing, food
 16 and utilities;
 17 (3) Excessive prices for prescription drugs contribute significantly
 18 to a dramatic and unsustainable rise in health care costs and health

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00232-04-6

 A. 2126--A 2

 1 insurance that threaten the overall ability of New York residents to
 2 obtain health coverage and maintain or achieve good health;
 3 (4) Excessive prices for prescription drugs contribute significantly
 4 to rising state costs for health care provided and paid for through
 5 health insurance programs for public employees, including employees of
 6 the state, municipalities and counties, school districts, institutions
 7 of higher education, and retirees whose health care costs are funded by
 8 public programs, thereby threatening the ability of the state to fund
 9 those programs adequately and further threatening the ability of the
 10 state to fund other programs necessary for the public good and safety,
 11 such as public education; and
 12 (5) Based on findings of paragraphs 1, 2, 3 and 4 of this subsection,
 13 the legislature finds that excessive prices for prescription drugs
 14 threaten the safety and well-being of New York residents and find it is
 15 necessary to act in order to protect New York residents from the nega-
 16 tive impact of excessive costs.
 17 (b) Program creation. A pilot program is hereby created to study the
 18 possibility of controlling excessive