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 addresses reimbursement rates for entities participating in the federal 340B drug pricing program, ensuring they are not reimbursed at lower rates than pharmacies with similar prescription volumes.

Furthermore, the bill introduces several initiatives to improve access to medications and support healthcare providers. It allows the Department of Health Services to partner with out-of-state drug repository programs and directs the Office of the Commissioner of Insurance to develop a pilot project for value-based diabetes medication. The bill also mandates the establishment of insulin safety net programs by manufacturers, ensuring that uninsured or underinsured individuals in urgent need can access insulin at a capped cost. To support pharmacists, the bill allows for continuing education credits for volunteering at free clinics and requires licensing for pharmacy services administrative organizations and pharmaceutical representatives, enhancing oversight and ethical standards in pharmaceutical marketing.