Relates to prescription drug formulary coverage for interchangeable biologics and biosimilars

This bill updates New York insurance law to expand the types of lower-cost alternatives insurers can require patients to try before covering brand-name drugs. Specifically, it adds "interchangeable biologics" and "biosimilars" to the list of alternatives (alongside generic drugs) that insurers may mandate patients attempt first. It also allows insurers to move drugs to higher-cost coverage tiers only when adding these lower-cost alternatives to their formulary. These changes directly affect patients needing prescription drugs and insurers managing drug coverage tiers. The bill focuses on standardizing formulary rules for complex biologic medications without specifying cost outcomes.