Limits overlapping control between insurance companies, pharmacy benefits managers, and pharmacies in New York.

The 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, and pharmacy. It mandates divestment from such entities within three years of the act's effective date. Violations incur a civil penalty of $10,000 per day and costs and reasonable attorney's fees. The attorney general can bring a civil action against violators.

Limits overlapping control between insurance companies, pharmacy benefits managers, and pharmacies in New York.

The 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, and pharmacy. It mandates divestment from such entities within three years of the act's effective date. Violations incur a civil penalty of $10,000 per day and costs and reasonable attorney's fees. The attorney general can bring a civil action against violators.