Iowa SF383 regulates pharmacy benefits managers, ensuring fair reimbursement and prohibiting discrimination against pharmacies.

Iowa SF383 introduces regulations for pharmacy benefits managers (PBMs), pharmacies, and prescription drugs. It mandates that PBMs must not reimburse pharmacies less than the national average drug acquisition cost or, if unavailable, the wholesale acquisition cost. PBMs must also pay a professional dispensing fee of $10.60 per prescription. The bill prohibits PBMs from discriminating against pharmacies and requires PBMs to submit quarterly reports to the insurance commissioner. It also mandates that PBMs use pass-through pricing unless certain conditions apply.

Iowa SF383 regulates pharmacy benefits managers, ensuring fair reimbursement and prohibiting discrimination against pharmacies.

Iowa SF383 introduces regulations for pharmacy benefits managers (PBMs), pharmacies, and prescription drugs. It mandates that PBMs must not reimburse pharmacies less than the national average drug acquisition cost or, if unavailable, the wholesale acquisition cost. PBMs must also pay a professional dispensing fee of $10.60 per prescription. The bill prohibits PBMs from discriminating against pharmacies and requires PBMs to submit quarterly reports to the insurance commissioner. It also mandates that PBMs use pass-through pricing unless certain conditions apply.