Iowa Code 510C.1 – Definitions
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Iowa Code 510C.1
- Contract: A legal written agreement that becomes binding when signed.
510C.1 Definitions.
As used in this chapter unless the context otherwise requires:
1. “”Administrative fees”” means a fee or payment, other than a rebate, under a contract between a pharmacy benefits manager and a pharmaceutical drug manufacturer in connection with the pharmacy benefits manager’s management of a third-party payor’s prescription drug benefit, that is paid by a pharmaceutical drug manufacturer to a pharmacy benefits manager or is retained by the pharmacy benefits manager.
2. “”Aggregate retained rebate percentage”” means the percentage of all rebates received by a pharmacy benefits manager that is not passed on to the pharmacy benefits manager’s third-party payor clients.
3. “”Commissioner”” means the commissioner of insurance.
4. “”Covered person”” means the same as defined in § 510B.1.
5. “”Formulary”” means a complete list of prescription drugs eligible for coverage under a health benefit plan.
6. “”Health benefit plan”” means the same as defined in § 510B.1.
7. “”Health carrier”” means the same as defined in § 510B.1.
8. “”Pharmacy benefits manager”” means the same as defined in § 510B.1.
9. “”Prescription drug benefit”” means the same as defined in § 510B.1.
10. “”Rebate”” means the same as defined in § 510B.1.
11. “”Third-party payor”” means the same as defined in § 510B.1.
12. “”Third-party payor administrative service fee”” means a fee or payment under a contract between a pharmacy benefits manager and a third-party payor in connection with the pharmacy benefits manager’s administration of the third-party payor’s prescription drug benefit that is paid by a third-party payor to a pharmacy benefits manager or is otherwise retained by a pharmacy benefits manager.
2019 Acts, ch 88, §1; 2020 Acts, ch 1063, §279 – 281; 2022 Acts, ch 1113, §17, 23
As used in this chapter unless the context otherwise requires:
1. “”Administrative fees”” means a fee or payment, other than a rebate, under a contract between a pharmacy benefits manager and a pharmaceutical drug manufacturer in connection with the pharmacy benefits manager’s management of a third-party payor’s prescription drug benefit, that is paid by a pharmaceutical drug manufacturer to a pharmacy benefits manager or is retained by the pharmacy benefits manager.
2. “”Aggregate retained rebate percentage”” means the percentage of all rebates received by a pharmacy benefits manager that is not passed on to the pharmacy benefits manager’s third-party payor clients.
3. “”Commissioner”” means the commissioner of insurance.
4. “”Covered person”” means the same as defined in § 510B.1.
5. “”Formulary”” means a complete list of prescription drugs eligible for coverage under a health benefit plan.
6. “”Health benefit plan”” means the same as defined in § 510B.1.
7. “”Health carrier”” means the same as defined in § 510B.1.
8. “”Pharmacy benefits manager”” means the same as defined in § 510B.1.
9. “”Prescription drug benefit”” means the same as defined in § 510B.1.
10. “”Rebate”” means the same as defined in § 510B.1.
11. “”Third-party payor”” means the same as defined in § 510B.1.
12. “”Third-party payor administrative service fee”” means a fee or payment under a contract between a pharmacy benefits manager and a third-party payor in connection with the pharmacy benefits manager’s administration of the third-party payor’s prescription drug benefit that is paid by a third-party payor to a pharmacy benefits manager or is otherwise retained by a pharmacy benefits manager.
2019 Acts, ch 88, §1; 2020 Acts, ch 1063, §279 – 281; 2022 Acts, ch 1113, §17, 23