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PSSNY Testifies at NYS DFS Hearing on CVS/Aetna Merger

Friday, October 19, 2018   (0 Comments)
Posted by: Jamie Cullis
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Roxanne Richardson, Chair and Kathy Febraio, Executive Director, testified yesterday at the NYS Department of Financial Services' hearing exploring the impact of the pending merger of CVS Health and Aetna Inc.PSSNY outlined its serious concerns by pointing out the impact to patients through limited networks, limited formularies, the Medical Loss Ratio and the reimbursement environment pharmacies are enduring. See testimony here.

A total of ten testifiers opposed the merger including Assemblyman Gottfried. Only the NYS Business Council approved of the merger.

DFS Superintendent Maria Vullo asked CVS lawyer Elizabeth Ferguson in a booming voice: "Will you vocally support the bill?" "We would not oppose it," Ferguson said, not going any further.
Comments on the merger can be sent to to DFS until October 25.Pharmacists should tell their personal stories and experiences by emailing their comments to with subject "CVS/AETNA MERGER."

Check out the media coverage on the hearing as of this morning:

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