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 transparency in their dealings with health plan sponsors. It also 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.

Furthermore, the bill introduces several initiatives aimed at improving access to insulin and diabetes 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 patient assistance program by manufacturers for qualifying residents and outlines an appeals process for denied applications. It also includes provisions for a prescription drug importation program, grants for developing pharmacy benefits tools, and licensure requirements for pharmacy services administrative organizations and pharmaceutical representatives. Overall, the bill seeks to create a more equitable and transparent healthcare system while addressing the rising costs of prescription medications.