Iowa Code 510B.8B – Pharmacy benefits manager affiliates — reimbursement
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 510B.8B
- Pharmacy: means the same as defined in section 155A. See Iowa Code 510B.1
- Pharmacy benefits manager: means a person who, pursuant to a contract or other relationship with a third-party payor, either directly or through an intermediary, manages a prescription drug benefit provided by the third-party payor. See Iowa Code 510B.1
- Pharmacy benefits manager affiliate: means a pharmacy or a pharmacist that directly or indirectly through one or more intermediaries, owns or controls, is owned and controlled by, or is under common ownership or control of, a pharmacy benefits manager. See Iowa Code 510B.1
- Prescription drug: means the same as defined in section 155A. See Iowa Code 510B.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
A pharmacy benefits manager shall not reimburse any pharmacy located in the state in an amount less than the amount that the pharmacy benefits manager reimburses a pharmacy benefits manager affiliate for dispensing the same prescription drug as dispensed by the pharmacy. The reimbursement amount shall be calculated on a per unit basis based on the same generic product identifier or generic code number.