Following the death of a 22-year-old who couldn’t afford a sudden price hike for his asthma medication, state lawmakers are advancing legislation to reform how prescription drugs are priced and managed in Wisconsin.
The “Cole’s Act” was inspired by an Appleton man who went to pick up a routine inhaler only to find the price had jumped from $66 to $539. Choosing to pay his rent instead of the price at the counter, he passed away from an asthma attack just days later. The bill aims to prevent such tragedies by requiring a 90-day notification for price changes and preventing insurers from dropping drug coverage mid-plan.
Beyond consumer protections, the bill targets Pharmacy Benefit Managers (PBMs), which, co-sponsor Sen. Howard Marklein says, are squeezing rural independent pharmacies out of business.
“I’ve heard from a number of my pharmacies in our rural areas where they’re reimbursing our local pharmacies for the drugs below cost, which is a problem,” Marklein tells Mid-West Farm Report.
He notes that many PBMs are now owned by the same companies that own large insurance providers and pharmacy chains.
The legislation has already seen significant momentum, passing unanimously out of the Senate committee. Marklein remains optimistic about the bill’s impact on both small business owners and patients in smaller communities like Darlington and Cuba City.
“For my small, independent pharmacies in my district, they are incredibly supportive of this… because they’re small potatoes in the big scheme of things in the health care system,” he says.
The bill is currently awaiting scheduling for a full vote on the Senate floor.
