§ 2901. Definitions. For purposes of this article: (a) “Controlling person” is any person or other entity who or which directly or indirectly has the power to direct or cause to be directed the management, control or activities of a pharmacy benefit manager. (b) The terms “covered individual”, “health plan”, “pharmacy benefit manager” and “pharmacy […]
§ 2902. Acting without a registration. (a) No person, firm, association, corporation or other entity may act as a pharmacy benefit manager on or after June first, two thousand twenty-two and prior to January first, two thousand twenty-four, without having a valid registration as a pharmacy benefit manager filed with the superintendent in accordance with […]
§ 2903. Registration requirements for pharmacy benefit managers. (a) Every pharmacy benefit manager that performs pharmacy benefit management services on or after June first, two thousand twenty-two and prior to January first, two thousand twenty-four shall register with the superintendent in a manner acceptable to the superintendent, and shall pay a fee of four thousand […]
§ 2904. Reporting requirements for pharmacy benefit managers. (a)(1) On or before July first of each year, every pharmacy benefit manager shall report to the superintendent, in a statement subscribed and affirmed as true under penalties of perjury, the information requested by the superintendent including, without limitation, (i) any pricing discounts, rebates of any kind, […]
§ 2905. Acting without a license. (a) No person, firm, association, corporation or other entity may act as a pharmacy benefit manager on or after January first, two thousand twenty-four without having authority to do so by virtue of a license issued in force pursuant to the provisions of this article. (b) Any person, firm, […]
§ 2906. Licensing of a pharmacy benefit manager. (a) The superintendent may issue a pharmacy benefit manager’s license to any person, firm, association or corporation who or that has complied with the requirements of this article, including regulations promulgated by the superintendent. The superintendent, in consultation with the commissioner of health, shall establish, by regulation, […]
§ 2907. Revocation or suspension of a registration or license of a pharmacy benefit manager. (a) The superintendent may revoke, or may suspend for a period the superintendent determines the registration or license of any pharmacy benefit manager if, after notice and hearing, the superintendent determines that the registrant or licensee or any member, principal, […]
§ 2908. Penalties for violations. (a) The superintendent, in addition to any other power conferred by law, may in any one proceeding by order, require the registrant or licensee who violates the provisions of this article or section two hundred eighty-a of the public health law, or any regulation promulgated thereunder to make restitution and […]
§ 2909. Stay or suspension of superintendent’s determination. The commencement of a proceeding under article seventy-eight of the civil practice law and rules, to review the action of the superintendent in suspending or revoking or refusing to renew any certificate under this article, shall stay such action of the superintendent for a period of thirty […]
§ 2910. Revoked registrations or licenses. (a)(1) No person, firm, association, corporation or other entity subject to the provisions of this article whose registration or license under this article has been revoked, or whose registration or license to engage in the business of pharmacy benefit management in any capacity has been revoked by any other […]
§ 2911. Additional obligations. (a) A pharmacy benefit manager shall assist a health plan in answering any inquiry made under section three hundred eight of this chapter. (b) No pharmacy benefit manager shall violate any provisions of the public health law applicable to pharmacy benefit managers. (c) No pharmacy benefit manager shall permit any subcontractor, […]
§ 2912. Change of address. A registrant or licensee under this article shall inform the superintendent by a means acceptable to the superintendent of a change of address within thirty days of the change.
§ 2913. Applicability of other laws. Nothing in this article shall be construed to exempt a pharmacy benefit manager from complying with the provisions of articles twenty-one and forty-nine of this chapter and articles forty-four and forty-nine and section two hundred eighty-a of the public health law, section three hundred sixty-four-j of the social services […]
§ 2914. Assessments. Notwithstanding section two hundred six of the financial services law, pharmacy benefit managers that file a registration with the department or are licensed by the department shall be assessed by the superintendent for the operating expenses of the department that are attributable to regulating such pharmacy benefit managers in such proportions as […]
