Insurer shall pay for services rendered within 45 days upon receipt of a written claim or 30 days upon receipt of a electronic claim. If denying a claim, it shall provide notice of the reason for denying the claim and what, if any, additional information is required to adjudicate the claim within 30 days of receipt of the claim. If the insurer fails to make payment as required it is subject to interest of 12% per annum.

Link to Existing Law: NY Ins. Code Article 32 §3224-a

While PBMs are not specifically mentioned, they are likely included as an agent for insurance companies.