Senate Bill 50 aims to enhance access to healthcare and reduce costs associated with prescription drugs, particularly insulin, for Wisconsin residents. The bill eliminates all cost-sharing payments for prescription drugs under the Medical Assistance program, also known as BadgerCare. It establishes a cap on insulin cost-sharing, 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, including a pilot project for value-based diabetes medication, grants for developing patient pharmacy benefits tools, and a prescription drug importation program aimed at generating savings for residents. It also mandates insulin manufacturers to create programs for uninsured or underinsured individuals in urgent need of insulin, ensuring they can access necessary medication at reduced costs. The bill includes provisions for the licensure of pharmacy services administrative organizations and pharmaceutical representatives, establishing ethical standards and reporting requirements to enhance accountability in pharmaceutical marketing. Overall, Senate Bill 50 seeks to improve healthcare affordability and accessibility for individuals in Wisconsin.