Senate ‘amplifies’ Cuomo’s crackdown on pharmacy benefit managers
As part of its budget proposal, the state Senate this week joined Gov. Andrew Cuomo in calling for the regulation and licensure of pharmacy benefit managers, which negotiate drug prices on behalf of insurers and employers.
Sen. James Skoufis, a Democrat who represents parts of Orange, Rockland and Ulster counties, said the Senate’s proposal would “amplify” Cuomo’s plan by increasing penalties and adding more protections for consumers.
“PBMs are a relatively new phenomenon. They are completely unregulated,” he said. “It’s sort of the Wild West of health care…”