Policy Issues

Rising Cost of Prescription Drugs

Albany is poised to give away billions of dollars to wealthy drug manufacturers, increasing costs for everyone else through higher health insurance premiums. Legislation to restrict measures used to ensure the most appropriate drug usage at the lowest cost, such as step therapy (A.3276/S.5909), copay accumulators (A.1741/S.5299) or opioid abuse deterrents (S. 4532/A.4667) are a few examples that sound consumer-friendly but really put the interest of drug companies before the interests of New Yorkers.

Prescription drug costs continue to be the largest driver of health insurance costs. Many life-saving drugs have more than tripled in price over the past decade. Drug manufacturers employ “cost-saving” gimmicks that in reality are intended to line their own pockets and drive up costs for consumers. Throughout the pandemic, health plans took swift and aggressive action to ensure affordable and high-quality health coverage was accessible, while drug companies kept jacking up their prices.

Governor Kathy Hochul must protect consumers from out-of-control drug costs and veto these bills!

Legislative Memos:
S.5299/A.1241 – Co-Pay Accumulator
S.5909/A.3276 – Step Therapy
S.4532/A.4667 – Opioid Abuse Deterrent 
S.431-A/A.187 – Medicaid Prescription Synchronization