Assembly Bill 62 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. 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 profits and payments related to drug claims. The bill also addresses the 340B drug pricing program, ensuring that certain entities are reimbursed fairly for drugs dispensed under this program.

Furthermore, the bill introduces several initiatives to improve access to insulin and other medications. It requires 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 mandates the establishment of a prescription drug importation program to generate savings for Wisconsin residents and directs the Office of the Commissioner of Insurance to develop a pilot project aimed at reducing diabetes medication costs. It also includes provisions for pharmacist continuing education credits for volunteering at free clinics, the licensure of pharmacy services administrative organizations and pharmaceutical representatives, and the establishment of a patient pharmacy benefits tool to help prescribers disclose drug costs to patients. Overall, the bill seeks to improve healthcare affordability and accessibility for Wisconsin residents.