Wisconsin’s PBM Bill Amended, Advances from Senate Health Committee

Wisconsin’s Senate Health Committee advanced a PBM reform bill (SB 203, known as Cole’s Act) following a key amendment to remove the bill’s dispensing fee provision. This change was prompted by fiscal concerns as the provision carried a projected cost of at least $20 million annually according to the state’s budget analysis.

Despite the removal of the dispensing fee, the bill retains several provisions that have drawn criticism from businesses and health plan sponsors. As currently written, the bill includes significant problems for businesses, clients, and patients, including restrictions on formulary changes, a PBM fiduciary duty standard, an any willing pharmacy requirement, a copay accumulator ban, and prohibits pharmacy fees and credentialing requirements. The bill now proceeds to the full Senate for consideration.