HF 2384: Pharmacy Benefit Managers
March 25, 2022
This Tuesday, ABI asked members to contact their legislators and request they oppose language in HF 2384, commonly known as the Pharmacy Benefit Manager (PBM) bill, and the amendment legislators were also considering. The underlying bill aims to change some PBM practices and aid small, independent and rural pharmacies. ABI supports that goal, but opposed costly provisions in the bill that did not serve the goal. Thanks to ABI member efforts, the Iowa House amended the bill to modify these costly provisions that would have been costly to ABI member company health insurance plans and ultimately employee costs for health care. The bill has moved to the Iowa Senate, where ABI will seek further changes to preserve the goal of the legislation and reduce unnecessary costs.
ABI’s larger members with self-insured ERISA plans need to be aware that the House legislation – for the first time in Iowa – seeks to regulate large employer ERISA plans. This will have serious cost impacts to those plans and ABI will be asking Senators to exclude these plans from final legislation. If you would like more information or would like to contact your senators and need help with that please contact JD Davis at email@example.com or 515-979-1212. You can also send a letter here.
- Status: Passed House
- ABI Position: Against