Governor Evers Offers Bold Plan to Lower Prescription Drug Costs for Wisconsinites
Madison, WI – During his biennial budget address tonight, Governor Tony Evers announced the most comprehensive package in Wisconsin history to address out-of-control prescription drug prices. Building on the work of the Governor's Task Force on Reducing Prescription Drug Prices, Governor Evers is proposing over a dozen innovative and effective policy solutions to reduce the price of prescription drugs and ensure Wisconsinites can access and afford the medications they need.
As chair of the Governor's Prescription Drug Task Force, Deputy Insurance Commissioner Nathan Houdek released the following statement in support of the Governor's budget:
“Last year the Governor's Task Force on Reducing Prescription Drug Prices recommended several policies to make prescription drugs more affordable and accessible. The Governor's budget is an important step toward making those recommendations a reality so that necessary medications are more accessible for everyone. By controlling costs, increasing transparency, strengthening consumer protections, and bolstering programs designed to support Wisconsin's most vulnerable, Governor Evers' budget offers a bold plan to address excessive prescription drug costs."
Gov. Evers 2021-2023 Biennial Budget Includes:
- Creating the Office of Prescription Drug Affordability to oversee and regulate the pharmaceutical supply chain and serve as a watchdog for Wisconsin consumers.
- Creating a Prescription Drug Affordability Review Board to set prescription drug spending targets for public sector entities and establish price limits.
- Establishing a $50 copay cap on insulin to ensure insulin is affordable for all Wisconsinites.
- Increasing consumer protections for Wisconsinites from attempts to artificially raise prices or mislead consumers through deceptive marketing and advertising practices.
- Requiring transparency and reporting across the prescription drug supply chain, from manufacturers and pharmacy benefit managers (PBMs) to pharmacy services administration organizations (PSAOs) and health plans.
- Pursuing a State Prescription Drug Purchasing Entity focused on leveraging public sector purchasing power to reduce prescription drugs costs and save taxpayer dollars.