On November 1st, the New York Department of Financial Services pulled back on regulations regarding PBMs (Pharmacy Benefit Manager). This was in response to an “overwhelming” number of comments submitted in opposition to the regulation from unions, employers, and health plans. The legislative objectives driving the regulations were ‘licensing standards for PBMs, including minimum standards related to market conduct practices, conflicts of interest, deceptive, anti-competitive, and unfair claims practices in connection with the performance of pharmacy benefit management services, predatory audit practices, and actions or procedures in the PBM industry that go against the best interests of the public.’ While the full regulations were pulled back, the Department did move part of the rule-making process and fully adopted the registration requirement for PBMs.
On November 8th, the New York State Board of Pharmacy will be holding their regular scheduled meeting in person in Albany. The agenda is as follows:
Executive Session 9:30 a.m.
- Proprietary matters relating to licensing exam development, administration, and assessment.
- Disciplinary and Professional Assistance Program discussions that address confidential processes, investigations, and prosecutions.
Public Session 1:00 p.m.
- Welcome and Introduction
- Review and approval of June meeting minutes
- Report of the Chair
- Report of the Executive Secretary
- NABP (National Association of Boards of Pharmacy) Presentation: Drug Supply Chain Security Act
- Report: Jurisprudence Committee
- New business
o Discussion: Online Discontinuance Form
o Discussion: Drug Price List
o Upcoming 2024 Meeting Dates
- Closing remarks and adjournment
For more information, please contact NACDS’ Ben Pearlman at 617-515-2603.