Gov. Kim Reynolds (R) signed into law HF 766, which, among its provisions, includes appropriations for health and human services. The Act codifies pharmacy reimbursement at Average Acquisition Cost (AAC) and establishes a professional dispensing fee of $10.07 for the fiscal year beginning Monday, July 1. Also, this reimbursement methodology serves as a rate floor for Medicaid managed care.
Also in Iowa… The Board of Pharmacy issued a press release to remind pharmacy stakeholders about revised rules for the Prescription Monitoring Program that took effect on May 15. Changes include policies pertaining to reporting elements, delegation and registration. Questions can be directed to Jennifer Tiffany and Sharon Smith.
Also in Iowa… Gov. Reynolds also signed into law SF 563, which requires Pharmacy Benefit Managers (PBMs) to submit an annual report to the Iowa Insurance Commissioner. The report must include information such as the administrative fees collected and rebates received that the PBM does not pass on to its customer health plans.
For more information, contact NACDS’ Joel Kurzman at 847-905-0555.