The bill mandates that health care providers and hospitals in Iowa disclose the prices charged for common health services. Specifically, health care providers are required to publicly disclose the prices for the twenty-five most common services they render, presented in a single document either electronically or on their website. This information must include both a common procedural terminology code and a plain language description, and it must be updated at least once a year. Similarly, hospitals must disclose prices for the seventy-five most common inpatient and outpatient services, grouped by Medicare diagnosis-related groups, with updates required on a quarterly basis.

Additionally, the disclosed price information must include a disclaimer indicating that the prices are estimates and do not constitute legally binding charges for specific consumers, as actual charges may vary based on circumstances at the time of service. The bill also instructs the Department of Health and Human Services to adopt rules to ensure compliance with federal requirements regarding price disclosures, thereby avoiding duplication of existing regulations.