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90th General Assembly · Funnel one-pager · Monday, November 9, 2026

HF 2401: Relating to pharmacy benefits managers, pharmacies, and prescription drug pricing, and providing applicability provisions

Died when the session ended · The General Assembly adjourned on April 19, 2024. Bills that didn’t pass both chambers died.

What it does

This bill relates to pharmacy benefits managers (PBMs), pharmacies, and prescription drug pricing. The bill prohibits a PBM from discriminating against a pharmacy or a pharmacist with regards to participation, referral, reimbursement of a covered service, or indemnification if a pharmacist acts within the scope of the pharmacist’s license and the pharmacy is operating in accordance with all applicable laws and rules. The bill requires all contracts executed, amended, adjusted, or renewed on or after July 1, 2024, which are applicable to prescription drug benefits on or after January 1, 2025, between a PBM and a third-party payor, or between a person and a third-party payor, to use a pass-through pricing model; to exclude terms that allow for spread pricing unless the entire amount of the difference caused by spread pricing is passed through by the pharmacy benefits manager; and to ensure that payments received in relation to providing services to a third-party payor or a pharmacy are used or distributed pursuant to the PBM’s contract with the third-party payor or with the pharmacy, or as otherwise required.

Sponsors

Commerce committee

Cost

See the fiscal note

8 million, as shown in Figure 1, beginning in FY 2025. It is estimated that the lower end of this range is more likely to occur, since offsetting price changes by PBMs, as a result of pharmacy reimbursement rates changing, will decrease the overall effect of M…

Senate subcommittee · named March 13, 2024

  • Sen. Mike Klimesh (R) · mike.klimesh@legis.iowa.gov
  • Sen. Dan Dawson (R) · dan.dawson@legis.iowa.gov
  • Sen. Janet Petersen (D) · janet.petersen@legis.iowa.gov

Lobbying · 5 for, 19 against

For: ARJ Infusion Services, Inc.; Hy-Vee, Inc.; Marshalltown Area Chamber of Commerce; MercyOne; Walgreens Co.

Against: AFSCME Iowa Council 61; Americans For Prosperity; Americas Health Insurance Plans (AHIP); Associated General Contractors of Iowa; City of Des Moines; FUELIowa (PMCI); Heavy Highway Contractors Association; Iowa Bankers Association; Iowa Business Council; Iowa Federation of Labor, AFL-CIO; Iowa Insurance Associates; Iowa Motor Truck Association; and 7 more

In plain words

  1. February 8, 2024Filed in the House
  2. March 8, 2024Cost estimate (fiscal note) posted
  3. March 12, 2024Passed the House, 93–3
  4. March 13, 2024Arrived in the Senate
  5. March 13, 2024Senate subcommittee named: Klimesh, Dawson and Petersen
  6. March 13, 2024Approved by the Senate committee
  7. April 18, 2024Cost estimate (fiscal note) posted

From public records at legis.iowa.gov, compiled by Funnel (iowafunnel.com), an independent, nonpartisan site. Current as of Monday, November 9, 2026. https://iowafunnel.com/bills/90/HF2401