In a move that aims to take the hassle out of grappling with surging medication costs, Governor Kathy Hochul has announced the rollout of a new digital platform named DFS Connect. The Department of Financial Services (DFS) spearheads this initiative, designed to streamline filing complaints against excessive prescription drug price increases and Pharmacy Benefit Managers (PBMs). New Yorkers, now armed with DFS Connect, can report these jumps in prices exceeding 50 percent within a year and directly communicate with DFS personnel about their concerns, according to the official press release.

Expanding on the narrative, Governor Hochul expressed that "New Yorkers deserve a transparent and accessible option for reporting drug price spikes and holding PBMs and drug manufacturers accountable for their rising costs of prescription medication." Meanwhile, DFS Superintendent Adrienne Harris highlighted the department's investment in innovation and technology over the last three years, DFS Connect embodies this journey towards revamping regulatory oversight while easing the interaction between the agency and consumers, businesses alike, the digital platform unfurling its capabilities starting with prescription drug cost complaints tracking and ongoing developments to cover the complete array of DFS's regulatory processes by 2027, as reported by the Governor's office.

Assemblymember Amy Paulin joined the chorus of approval, congratulating Governor Hochul on the DFS Connect system and emphasizing the dire need for measures to curb escalating medication costs, particularly for seniors and those on fixed incomes. Additionally, DFS has had its hands full with over 300 complaints pertaining to PBMs since the start of 2022 but has successfully reclaimed upwards of $1.3 million for pharmacies and consumers in the fray.

Pharmacies aren't left out of the loop either; they can now file grievances regarding problematic practices of PBMs and manufacturers through DFS Connect, which is part of a larger scheme to modernize the oversight of financial institutions ensuring that licensing, renewals, examinations, and legal filings are executed without a hiccup, after hiring and promoting over a thousand personnel in the last three years – DFS is poised to capably manage New York's robust financial and insurance sectors while upholding consumer rights. The DFS hotline remains available for assistance, staffed during the week.

New Yorkers dealing with drug price hikes or PBM issues can use DFS Connect through their NY.gov account. They can also file complaints on paper or call for help if they prefer. For specific details and to submit a complaint digitally, you can visit the DFS Connect platform through the link provided in the press release or correspond via mail at the Department of Financial Services, Office of Pharmacy Benefits in Albany.