On Apr. 18, KNY LEG passed bill relating to pharmacy benefits.
KNY LEG passed bill HB 190 to amend certain provisions relating to pharmacy benefits.
Bill Provisions
Defined National average drug acquisition cost to mean the national average drug acquisition cost, or NADAC, for a prescription drug or other service as specified.
Specifically prescription drug or other service determined by a survey of retail pharmacies; and published by the federal Centers for Medicare and Medicaid Services.
The minimum reimbursement for the cost of a drug or other service required under this subparagraph shall not apply to a pharmacy permitted under Chapter 315.
Also with designated pharmacy type of retail chain on file with KNY Board of Pharmacy or pharmacist practicing at such pharmacy, until Commissioner determination in effect.
Legislative History
On Jan. 8, 2024, bill introduced in the House; on Mar. 12, 2024, bill passed in House.
On Mar. 13, 2024, bill introduced in Senate; on Apr. 15, 2024, bill passed in Senate.
On Apr. 15, 2024, bill delivered to governor; on Apr. 18, 2024, bill signed by governor.
Effectiveness
Bill provisions become effective Jan. 1, 2025.
Regulators
KNY LEG
Entity Types
CNSM; Ins
Reference
Bill, HB190, 4/18/2024;
Functions
Actuarial and Valuation; Compliance; Financial; Legal
