Relates to prescription drug formulary coverage for interchangeable biologics and biosimilars

This bill amends New York insurance law to require health insurers to allow patients to try cheaper interchangeable biologics and biosimilars before covering brand-name drugs. It updates prior authorization rules so insurers must consider these cost-saving alternatives when reviewing coverage for biologic medications. The law also allows insurers to move a drug to a higher-cost insurance tier only if a cheaper interchangeable biologic or biosimilar is simultaneously added to the plan's drug list. These changes directly affect patients seeking biologic treatments and insurers managing prescription drug coverage.