New York S02128 mandates health insurance issuers to ensure at least 85% of prescription drug rebates are passed on to patients at the point of sale.

New York S02128 amends the insurance and public health laws to require health insurance issuers to certify that at least 85% of prescription drug rebates are provided to patients at the point of sale. The bill defines "rebate" as negotiated price concessions from manufacturers or pharmacies. It mandates that enrollees' cost-sharing for prescription drugs be calculated based on a price reduced by at least 85% of all rebates. Issuers must submit annual certifications to the superintendent of financial services attesting to compliance.

New York S02128 mandates health insurance issuers to ensure at least 85% of prescription drug rebates are passed on to patients at the point of sale.

New York S02128 amends the insurance and public health laws to require health insurance issuers to certify that at least 85% of prescription drug rebates are provided to patients at the point of sale. The bill defines "rebate" as negotiated price concessions from manufacturers or pharmacies. It mandates that enrollees' cost-sharing for prescription drugs be calculated based on a price reduced by at least 85% of all rebates. Issuers must submit annual certifications to the superintendent of financial services attesting to compliance.