510B.4 Standards of conduct — good faith — conflict of interest. 1. A pharmacy benefits manager shall exercise good faith and fair dealing in the performance of the pharmacy benefits manager’s contractual obligations toward athird-party payor. 2. A pharmacy benefits manager shall notify a health carrier in writing of any activity, policy, practice ownership interest, or affiliation of the pharmacy benefits manager thatpresents any conflict of interest. 3. A pharmacy benefits manager shall act in the best interest of each third-party payor for whom the pharmacy benefits manager manages a prescription drug benefit provided bythe third-party payor, and shall discharge its duties in accordance with applicable state andfederal law. 2007 Acts, ch 193, §4, 9; 2022 Acts, ch 1113, §3, 16, 232022 amendment applies to pharmacy benefits managers that manage a prescription drug benefit in the state on or after June 13, 2022; 2022 Acts, ch 1113, §16 Sat Dec 23 00:42:25 2023 Iowa Code 2024, Section 510B.4 (18, 0)
Iowa Legal Code