On October 17, A4953 was introduced and on October 24, the Assembly Committee on Financial Institutions and Insurance held a discussion only hearing. The bill titled “Patient and Provider Protection Act” attempts to regulate PBMs by implementing a fiduciary duty and a rate floor. There are some concerns with the legislation that include cost of dispensing and definition of independent pharmacies.
For more information, please contact NACDS’ Ben Pearlman at 617-515-2603.