New York Bans Midyear Changes to Prescription Drug Coverage

New York state lawmakers aim to protect patients from unexpected hikes in prescription drug prices by banning health-care plans from changing their drug coverage during an enrollment year, in a bill signed into law Thursday.

The legislation (S.4111/A.4668), signed by Gov. Kathy Hochul (D), adds a new section to state insurance law, prohibiting health-care plans from removing a prescription drug from their formulary, the list of prescription drugs covered by the plan, during the enrollment year. Plans are also limited in moving drugs to higher cost tiers and introducing certain use management restrictions during the year. Plans may ...