In a disappointing turn of events, the New York State Department of Financial Services withdrew a proposed regulation to regulate PBMs in the state. The reason given for withdrawing the proposed regulation was brief and vague: “reconsidering parts of the proposed amendments.” This move is troubling as this proposed regulation garnered overwhelming support during the comment period.
Superintendent of Financial Services Adrienne A. Harris recently announced proposed regulations to govern the conduct of PBMs operating in New York state. If adopted, these regulations.
On February 23, 2023, The New York Department of Financial Services’ (“Department”) Pharmacy Benefits Bureau (“PBB”) announced a final request for public engagement as the Department.