MADISON, Wis. (AP) — The Wisconsin Legislature has given final approval to a bill designed to lower prescription drug costs.
The state Assembly passed the bill Tuesday setting new requirements for pharmacy benefit managers. They negotiate prices with drug manufacturers on behalf of insurers.
The bill would require them to register with the state and submit annual reports with the state on rebates they receive from drug makers and whether those savings were passed on to customers. The Assembly is also voting on a bill that has bipartisan support that would guarantee people with pre-existing health conditions can’t be denied insurance coverage.