Limits overlapping control between insurance companies, pharmacy benefits managers, and pharmacies, requiring divestment within three years.

This bill amends the general obligations law to prohibit any person or entity from directly or indirectly owning, operating, or controlling an insurance company, pharmacy benefits manager, or pharmacy. It defines "indirect control" as any relationship that allows influence over operations. Violation of this provision requires divestment within three years. The attorney general can bring a civil action against violators, seeking penalties and legal fees. The act takes effect immediately.

Limits overlapping control between insurance companies, pharmacy benefits managers, and pharmacies, requiring divestment within three years.

This bill amends the general obligations law to prohibit any person or entity from directly or indirectly owning, operating, or controlling an insurance company, pharmacy benefits manager, or pharmacy. It defines "indirect control" as any relationship that allows influence over operations. Violation of this provision requires divestment within three years. The attorney general can bring a civil action against violators, seeking penalties and legal fees. The act takes effect immediately.