New York S05464 amends public health law to regulate pharmacy benefit managers, ensuring pharmacies are reimbursed at least the cost of procuring.

New York S05464 amends the public health law to regulate pharmacy benefit managers. It ensures that pharmacies are reimbursed at least the cost of procuring drugs. The bill defines terms such as "pharmacy benefit manager" and "maximum allowable cost." It mandates that pharmacy benefit managers must not penalize pharmacists for disclosing prescription costs. The bill also requires transparency in contracts and arrangements between pharmacy benefit managers and pharmacies. It establishes an appeals process for pharmacies to challenge reimbursement amounts.

New York S05464 amends public health law to regulate pharmacy benefit managers, ensuring pharmacies are reimbursed at least the cost of procuring.

New York S05464 amends the public health law to regulate pharmacy benefit managers. It ensures that pharmacies are reimbursed at least the cost of procuring drugs. The bill defines terms such as "pharmacy benefit manager" and "maximum allowable cost." It mandates that pharmacy benefit managers must not penalize pharmacists for disclosing prescription costs. The bill also requires transparency in contracts and arrangements between pharmacy benefit managers and pharmacies. It establishes an appeals process for pharmacies to challenge reimbursement amounts.