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

SF 554: Relating to pharmacy benefits manager reverse auctions and group insurance, and annual reporting by pharmacy benefits managers

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 manager reverse auctions and group insurance for public employees. “Pharmacy benefits manager reverse auction” (reverse auction) is defined in the bill as an automated, transparent, and competitive bidding process conducted online that starts with an opening round of bids and allows qualified pharmacy benefits manager (PBM) bidders to counter-offer a lower price for as many rounds of bidding as determined by the department of administrative services (DAS) for a multiple health plan prescription drug purchasing group.

Sponsors

Ways and Means committee

Cost

No fiscal note

House subcommittee · named January 23, 2024

  • Rep. Shannon Lundgren (R) · shannon.lundgren@legis.iowa.gov
  • Rep. John Forbes (D)
  • Rep. David E. Young (R) · david.young@legis.iowa.gov

Lobbying · 1 for, 4 against

For: Nomi Health

Against: Cigna Corporate Services, LLC; Federation of Iowa Insurers; Pharmaceutical Care Management Association; Wellmark, Inc.

In plain words

  1. March 22, 2023Filed in the Senate
  2. March 22, 2023Approved by the Senate committee
  3. April 24, 2023Passed the Senate, 48–1
  4. January 22, 2024Arrived in the House
  5. January 23, 2024House subcommittee named: Lundgren, Forbes and Young
  6. January 30, 2024Subcommittee recommended against it

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/SF554