(Madison, WI) Representative Michael Schraa’s (R-Oshkosh) Pharmacy Benefit Manager bill passed the Assembly unanimously. This bill will lower drug costs for consumers across the state.
“A small town pharmacy owner first told me about Pharmacy Benefit Managers (PBMs) and their unfair business practices. It really hit home when our PBM denied medication to my wife and daughter, which resulted in serious health issues.”
“Many of my colleagues shared heart-wrenching stories of how PBM policies and practices have hurt their constituents, their family members, and themselves. It’s time for a change.
Assembly Bill 114 will require that all PBMs be licensed by the state. The bill includes important consumer protections, such as allowing pharmacists to tell customers about lower cost alternatives and restricting formulary changes. PBMs will also have to adhere to basic good business practices, including fair audit procedures and reporting kickbacks to the Commissioner of Insurance.
“Forty other states have enacted various PBM reforms. With 104 cosposonsors from both parties in the Assembly and Senate, it’s clear that Wisconsin legislators are concerned about protecting our citizens’ health.”