Bill Text: NY A10475 | 2021-2022 | General Assembly | Introduced

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Bill Title: Requires the Superintendent of Financial Services to refer the drug insulin to the Drug Accountability Board for examination related to price increases and consumer impact.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2022-06-03 - REFERRED TO RULES [A10475 Detail]

Download: New_York-2021-A10475-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10475

                   IN ASSEMBLY

                                      May 27, 2022
                                       ___________

        Introduced  by  COMMITTEE  ON  RULES -- (at request of M. of A. Niou) --
          read once and referred to the Committee on Insurance

        AN ACT to require the Superintendent of Financial Services to refer  the
          drug  insulin to the Drug Accountability Board for examination related
          to price increases and consumer impacts

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

     1    Section  1. The Superintendent of Financial Services shall refer insu-
     2  lin to the Drug Accountability Board. Such board shall examine all forms
     3  of insulin medications pursuant to paragraph (1) of  subsection  (f)  of
     4  section  202  of the insurance law and report on its findings, including
     5  but not limited to:
     6    (a) the drug's impact on the premium costs for commercial insurance in
     7  this state and the drug's affordability and value to the public;
     8    (b) whether increases in the price of the drug over time were  signif-
     9  icant and unjustified; and
    10    (c)  pursuant  to  part DDD of chapter 56 of the laws of 2020, examine
    11  the cap on cost-sharing  for  insulin  related  to  appropriateness  and
    12  whether such cap is suitable to meet consumer needs.
    13    §  2.  The Superintendent of Financial Services shall prepare a report
    14  based on the findings of the Drug Accountability  Board.  Within  twelve
    15  months  of  the effective date of this act, the Superintendent of Finan-
    16  cial Services shall:
    17    (a) publish the report of his or her findings  on  the  department  of
    18  financial  service's  website  in  a  location  easily accessible to the
    19  public; and
    20    (b) deliver a copy of the report to the governor, the temporary presi-
    21  dent of the senate and the speaker of the assembly.
    22    § 3. This act shall take effect immediately.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15990-01-2