This text of Iowa § 510C.2 (Annual report to commissioner) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1.Each pharmacy benefits manager shall provide a report annually by February 15 to
the commissioner that contains all of the following information regarding prescription drug
benefits provided to covered persons of each third-party payor with whom the pharmacy
benefits manager has contracted during the prior calendar year:
a.The aggregate dollar amount of all rebates received by the pharmacy benefits manager.
b.The aggregate dollar amount of all administrative fees received by the pharmacy
benefits manager.
c.The aggregate dollar amount of all third-party payor administrative service fees
received by the pharmacy benefits manager.
d.The aggregate dollar amount of all rebates received by the pharmacy benefits manager
that the pharmacy benefits manager did not pass through to the third-
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1. Each pharmacy benefits manager shall provide a report annually by February 15 to
the commissioner that contains all of the following information regarding prescription drug
benefits provided to covered persons of each third-party payor with whom the pharmacy
benefits manager has contracted during the prior calendar year:
a. The aggregate dollar amount of all rebates received by the pharmacy benefits manager.
b. The aggregate dollar amount of all administrative fees received by the pharmacy
benefits manager.
c. The aggregate dollar amount of all third-party payor administrative service fees
received by the pharmacy benefits manager.
d. The aggregate dollar amount of all rebates received by the pharmacy benefits manager
that the pharmacy benefits manager did not pass through to the third-party payor.
e. The aggregate amount of all administrative fees received by the pharmacy benefits
manager that the pharmacy benefits manager did not pass through to the third-party payor.
f. The aggregate retained rebate percentage as calculated by dividing the dollar amount
in paragraph “d” by the dollar amount in paragraph “a”.
g. Across all third-party payor clients with whom the pharmacy benefits manager was
contracted, the highest and the lowest aggregate retained rebate percentages.
2. a. Apharmacybenefitsmanagershallprovidetheinformationpursuanttosubsection1
§510C.2, PHARMACY BENEFITS MANAGER REPORTING 2
tothecommissionerinaformatapprovedbythecommissionerthatdoesnotpubliclydisclose
any of the following:
(1) The identity of a specific third-party payor.
(2) The price charged by a specific pharmaceutical manufacturer for a specific
prescription drug or for a class of prescription drugs.
(3) Theamountofrebatesprovidedforaspecificprescriptiondrugorclassofprescription
drugs.
b. Information provided under this section by a pharmacy benefits manager to the
commissioner that may reveal the identity of a specific third-party payor, the price charged
by a specific pharmaceutical manufacturer for a specific prescription drug or class of
prescription drugs, or the amount of rebates provided for a specific prescription drug or
class of prescription drugs shall be considered a confidential record and be recognized and
protected as a trade secret pursuant to section 22.7, subsection 3.
3. The commissioner shall publish, within sixty calendar days of receipt, the
nonconfidential information received by the commissioner on a publicly accessible internet
site. The information shall be made available to the public in a format that complies with
subsection 2, paragraph “a”.