Pictured (L-R): District 9 Senator, Jason Schultz; District 12 Representative, Brian Best; and Moderator, John Brockelsby
The final day of the 2022 Iowa Legislative Session is scheduled for the end of next week, but local legislators are still hoping to push through a proposed bill that would shine a light on what role pharmacy benefits managers (PBMs) play in the state’s prescription medicine market and drug prices. During Saturday’s Carroll Chamber of Commerce Legislative Forum, District 9 Senator, Jason Schultz, says this issue has not gotten much attention in recent years, but it may be one of the most important bills of this session.
Schultz does not view the companies involved in this complicated system as the “bad guys.” He says it is simply a result of how healthcare has grown and developed in Iowa. However, Schultz says the only level in the chain that does not have a lobbyist working at the statehouse is the end consumer. Schultz says the Iowa House has already approved legislation that seeks to regulate PBMs in Iowa. He is optimistic it will have Senate approval by the session’s end.
As the Senate Commerce Committee Chair, Schultz had been the one to kill this bill in previous sessions, and he acknowledges now that this is something he wishes the legislature had pursued earlier. Arkansas is one of several states to implement similar legislation in recent years. Schultz says the former Arkansas Insurance Commissioner is scheduled to present to the Senate this week.
PBM regulation is an issue District 12 Representative, Brian Best, pursued in previous legislative sessions. He says he is thrilled to see the Senate taking serious interest.
Best was the floor manager for this bill in the Iowa House. According to Schultz, the future of the legislation is largely on the shoulders of Senate Majority Leader, Jack Whitver, and Health and Human Services Appropriations Chair, Mark Costello. Best and Schultz made their comments Saturday morning during the Carroll Chamber of Commerce’s final legislative forum of the 2022 session. Full audio from the event can be found included below.
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