Standards of conduct good faith conflict of interest.
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IA Code › Title XIII › Chapter 510B › Section 510B.4
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(1) A pharmacy benefits manager shall exercise good faith and fair dealing in the performance of the pharmacy benefits manager’s contractual obligations toward a third-party payor or a pharmacy.
(2) A pharmacy benefits manager shall notify a health carrier in writing of any activity, policy, practice ownership interest, or affiliation of the pharmacy benefits manager that presents any conflict of interest.
(3) A pharmacy benefits manager shall act in the best interest of each third-party payor for whom the pharmacy benefits manager manages a prescription drug benefit provided by the third-party payor, and shall discharge its duties in accordance with applicable state and federal law.
(4) A pharmacy benefits manager, health carrier, health benefit plan, or third-party payor shall not discriminate against a pharmacy or a pharmacist with respect to participation, referral, reimbursement of a covered service, or indemnification if a pharmacist is acting within the scope of the pharmacist’s license, as permitted under state law, and the pharmacy is operating in compliance with all applicable laws and rules.
2007 Acts, ch 193, §4, 9; 2022 Acts, ch 1113, §3, 16, 23; 2024 Acts, ch 1100, §2; 2025 Acts, ch 151, §2, 9
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