SF 464 – Iowa

Status: In Process
Year Introduced: 2021
Link: https://www.legis.iowa.gov/legislation/BillBook?ga=89&ba=HF464

A bill for an act relating to price transparency and cost-sharing for prescription drugs. This bill requires a manufactuer to file an annual report with the commissioner of insurance that discloses the wholesale acquisition cost for all prescription drugs manufactured by the manufacturer that were sold to a person in this state in the immediately preceding calendar year. If a prescription drug sold to a person in this state has a cost of $100 or more for a 30-day supply and the cost increases 40 percent or more over the three preceding calendar years, or increases 15 percent or more in the preceding calendar year, the manufacturer of the prescription drug must file a report with the commissioner within 30 calendar days of the date on which the 40 or 15 percent increase in cost ocurs. The bill requires each health carrier to submit an annual report by February 1 to the commissioner that contains information as detailed in the bill across all of the health carrier’s health benefit plans. The bill also requires carrier to include all cost-sharing amounts paid by an enrollee of a health plan, or by another person on behalf of an enrollee, as part of the carrier’s calculation of an enrollee’s contribution to the enrollee’s applicable cost-sharing requirement.

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