This bill introduces comprehensive regulations for vision benefit plans, insurers, vision benefit managers (VBMs), and vision care providers in Iowa. It establishes new definitions related to vision care, such as "chargeback," "cost sharing," and "covered service," while mandating that reimbursements for covered services be clearly listed and equitable among providers. Insurers and VBMs are required to adjust reimbursement rates annually based on the consumer price index, ensuring fair treatment of participating vision care providers. The bill also prohibits certain practices, such as requiring providers to participate in multiple plans or imposing unfair conditions, and sets limits on contract durations and terms.

Additionally, the bill outlines specific requirements for reimbursement processes, including annual adjustments and audit timeframes, while ensuring compliance with national coordination of benefits regulations. It addresses mergers and acquisitions involving insurers and VBMs, mandating a defined reenrollment period for vision care providers and allowing them to opt out without penalty. The bill empowers vision care providers to seek injunctive relief and recover damages for violations, with the attorney general acting on their behalf. It applies to all relevant policies and contracts issued or renewed in the state after its effective date, and grants the commissioner of insurance the authority to adopt necessary administrative rules.

Statutes affected:
Introduced: 135.1