State Treasurer of Iowa

Treasurer Smith Releases Statement Regarding Taxpayer-Funded Settlements and New 28E Agreement

September 5, 2023

DES MOINES - When I ran for State Treasurer, I promised I would fight every day for the hard-working taxpayers of this state. Promises made, promises kept.

Over the last 8 months as a member of the State Appeals Board, I voted against millions of dollars of taxpayer-funded settlements involving the University of Iowa Hospitals and Clinics (UIHC). I voted against these settlements time and time again because I felt the taxpayer was unfairly shouldering too much of the burden of these settlements.

Last week, the Attorney General, the UIHC and the Board of Regents renegotiated and signed a new 28E agreement raising the dollar amount for which the UIHC is required to pay from $9 million to up to $15 million annually. The new agreement also has a mechanism to raise this amount based on inflation and expands UIHC’s responsibility to cover other medical professionals, not just physicians.

I am very pleased by this new agreement as it should save Iowa taxpayers tens of millions of dollars going forward. I want to thank Attorney General Brenna Bird as well as the Iowa Board of Regents and the UIHC for being responsive to the concerns I raised and for working to address those concerns in an expeditious manner. I am proud of the new agreement that has been put in place and will keep fighting every day as State Treasurer for the hard-working taxpayers of this great state.

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