New York A 6764: Relates to consumer litigation funding

Bill Text

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A06764 Summary:

BILL NOA06764 

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SAME ASNo Same As

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SPONSORWeprin

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COSPNSR

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MLTSPNSR

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Amd §2904, Ins L

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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.

Go to top A06764 Actions:

BILL NOA06764 

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03/12/2025referred to insurance

01/07/2026referred to insurance

Go to topA06764 Committee&nbspVotes:

Go to topA06764 Floor&nbspVotes:

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

Go to topA06764 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6764

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 12, 2025
 ___________

 Introduced by M. of A. WEPRIN -- read once and referred to the Committee
 on Insurance

 AN ACT to amend the insurance law, in relation to reporting requirements
 for pharmacy benefit managers

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

 1 Section 1. Paragraph 1 of subsection (a) of section 2904 of the insur-
 2 ance law, as amended by chapter 128 of the laws of 2022, is amended to
 3 read as follows:
 4 (1) (i) On or before July first of each year, every pharmacy benefit
 5 manager shall report to the superintendent, in a statement subscribed
 6 and affirmed as true under penalties of perjury, the information
 7 requested by the superintendent including, without limitation,
 8 [(i)] (A) any pricing discounts, rebates of any kind, inflationary
 9 payments, credits, clawbacks, fees, grants, chargebacks, reimbursements,
 10 other financial or other reimbursements, incentives, inducements,
 11 refunds or other benefits received by the pharmacy benefit manager;
 12 [and]
 13 [(ii)] (B) the terms and conditions of any contract or arrangement,
 14 including other financial or other reimbursements incentives, induce-
 15 ments or refunds between the pharmacy benefit manager and any other
 16 party relating to pharmacy benefit management services provided to a
 17 health plan including but not limited to, dispensing fees paid to phar-
 18 macies[.];
 19 (C) the aggregated dollar amount of rebates, fees, price protection
 20 payments and any other payments the pharmacy benefit manager received
 21 from drug manufacturers through rebate contracts;
 22 (D) the portions of the amount in clause (C) of this subparagraph
 23 which were:
 24 1. passed on to health plans; or
 25 2. retained by the pharmacy benefit manager; and

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10316-01-5

 A. 6764 2

 1 (E) for each rebate contract in effect during the reporting period:
 2 1. the names of the contracting parties;
 3 2. the execution date and the term of the contract, including exten-
 4 sions;
 5 3. the name of the drugs and the associated national drug codes
 6 covered by the rebate contract, and for each drug:
 7 (I) a summary of the contract terms regarding formulary placement,
 8 formulary exclusion, or prior authorization requirements or step edits,
 9 of any drugs considered to compete with each drug;
 10 (II) a summary of all terms requiring or incentivizing volume or
 11 market share for each drug, including base rebate amounts, bundled
 12 rebates and incremental rebates, stated separately, and price conces-
 13 sion, stated separately for each drug; and
 14 (III) the total number of prescriptions filled and units dispensed for
 15 which a rebate, discount, price concession or other consideration was
 16 received by the pharmacy benefit manager for each drug;
 17 4. the rebate percentage and dollar amount retained by the pharmacy
 18 benefit manager for every rebate, discount, price concession or other
 19 consideration under each rebate contract; and
 20 5. the dollar amount of any other compensation paid by a drug manufac-
 21 turer to a pharmacy benefit manager for services including distribution
 22 management services, data or data services, marketing or promotional
 23 services, research pr