Senate Bill 50 aims to enhance access to healthcare and reduce costs associated with prescription drugs in Wisconsin. 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 insulin costs, prohibiting health insurance policies from charging more than $35 for a one-month supply of insulin. Additionally, the bill imposes fiduciary and disclosure requirements on pharmacy benefit managers, ensuring they act in the best interest of health plan sponsors and transparently disclose financial information. Other provisions include the establishment of a drug repository program, a pilot project for value-based diabetes medication, and grants for developing patient pharmacy benefits tools.

Furthermore, the bill mandates insulin manufacturers to create programs for dispensing insulin to qualifying residents in urgent need, with specific copayment limits. It requires the licensing of pharmacy services administrative organizations and pharmaceutical representatives, along with continuing education requirements for the latter. The bill also outlines penalties for noncompliance by manufacturers and directs the Office of the Commissioner of Insurance to conduct studies and develop outreach programs related to insulin access. Overall, Senate Bill 50 seeks to improve healthcare affordability and accessibility for Wisconsin residents, particularly those with diabetes and limited financial resources.