On Dec. 23, 2019, NY Governor Andrew Cuomo vetoed AB 2969-A, which would prohibit health plans from making changes to their formulary during the plan year. In vetoing this bill, Gov. Cuomo argued that health plans would have to anticipate future drug price increases, which would raise premiums for enrollees.
To view the governor’s veto message for AB 2969-A, click here.
On Dec. 26, 2019, Gov. Cuomo also vetoed SB 6531, which would give the Department of Financial Services and the Department of Health the authority to license and regulate Pharmacy Benefit Managers (PBMs). In vetoing this bill, Gov. Cuomo asserted that the legislation would be preempted by the Employee Retirement Income Security Act (ERISA) and the Medicare Prescription Drug, Improvement, and Modernization Act (MMA). Gov. Cuomo also argued that the bill would increase costs and facilitate anticompetitive conduct.
To view the governor’s veto message for SB 6531, click here.
Aimed Alliance is disappointed that these measures were not enacted, but looks forward to continued advocacy on these issues in 2020.