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Iowa bill targets Pharmacy Benefit Managers
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(ABC 6 News) — A new Iowa bill is aiming to remove the middlemen who negotiate prices between pharmacies and insurance companies.
The bill, which advanced through subcommittees in both the House and Senate, would allow pharmacies to decline giving prescriptions to people if that pharmacy would be reimbursed less than it paid for the drug.
The Iowa Pharmacy Association says in just the last year, Pharmacy Benefit Managers’ practices have forced 29 Iowa pharmacies to close, with the number being as high as 150 in the last decade.