This bill would require that pharmacies post signs to inform consumers of co-pay “clawbacks” on prescription drugs. Clawbacks occur when consumers pay a higher price for their co-pay than they would if they directly paid the price of the prescription drug itself; a third-party insurance company “claws back” the difference. Consumers pay for health insurance to provide coverage and reduce costs and they should be aware when their insurance unnecessarily restricts access to important information or necessary prescriptions. Accordingly, the signs would notify customers that the price of a drug, if purchased without using insurance, might be less than the cost of a co-pay if purchased using insurance.
- Filed (End of Session)
History
Int. No. 1835
By Council Member Treyger
A Local Law to amend the administrative code of the city of New York, in relation to posting signs informing consumers about co-pay clawbacks for prescription drugs
Be it enacted by the Council as follows:
Section 1. Subchapter 3 of chapter 5 of title 20 of the administrative code of the city of New York is amended by adding a new section 20-713.2 to read as follows:
§ 20-713.2 Required signage. Every retail outlet selling prescription drugs within the city must conspicuously post on or near any fixed point of sale terminal a sign in large font informing customers that drugs might cost less than an insurance co-payment. The department shall determine the form of such posting.
§ 2. This local law takes effect 120 days after it becomes law except that the department shall take such measures as are necessary for the implementation of this local law, including the promulgation of rules, before such date.
BM
LS #11793
12/11/17 11:00 a.m.