Posting signs informing consumers about co-pay clawbacks for prescription drugs.

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

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.