GREEN BAY, WI (Wisconsin Radio Network) – Governor Walker signed his Health Care Stability Plan in Green Bay Sunday after the federal government approved it.
The federal waiver will allow Wisconsin to offer a 200-million-dollar re-insurance program.
Walker believes this will stabilize the market and attract more insurance providers to the private marketplace.
“We believe it will actually help the market overall, both for individuals and for people who get their insurance through group insurance plans which often times are from mid-size and larger employers.”
He says the plan should lower premiums for individuals next year by an average of three-and-a-half percent.
“Part of the key of this is working with insurers and those who said they would respond by reentering the marketplace and looking to engage in this program to help lower premiums.”
The program will take effect in January, and will be good for five years.
