Senate Bill 50 aims to enhance access to affordable healthcare, particularly focusing on prescription drugs and insulin. The bill eliminates all cost-sharing payments for prescription drugs under the Medical Assistance program, also known as BadgerCare. It also establishes a cap on cost-sharing for insulin, limiting it to $35 for a one-month supply, and imposes fiduciary and disclosure requirements on pharmacy benefit managers to ensure transparency in their dealings with health plans. Additionally, the bill prohibits lower reimbursements for certain entities participating in the federal 340B drug pricing program and allows the Department of Health Services to partner with out-of-state drug repository programs to facilitate drug donations.

Furthermore, the bill introduces several initiatives aimed at improving the accessibility and affordability of insulin. It mandates insulin manufacturers to create programs for uninsured or underinsured individuals in urgent need of insulin, allowing pharmacies to dispense insulin at a capped copayment. The bill also requires manufacturers to establish patient assistance programs for qualifying residents, with provisions for appeals to the Office of the Commissioner of Insurance (OCI) regarding eligibility determinations. To support these efforts, the bill includes provisions for grants to develop pharmacy benefits tools, a study on a state prescription drug purchasing entity, and the licensure of pharmacy services administrative organizations and pharmaceutical representatives to ensure compliance and ethical marketing practices.