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State’s reinsurance waiver approved by CMS

The Centers for Medicare and Medicaid Services has approved a $200 million waiver to establish a reinsurance program aimed at stabilizing and lowering insurance premiums in Wisconsin.

The reinsurance program, part of Gov. Scott Walker’s Wisconsin Healthcare Stability Plan, is expected to last until 2023 and will cover 50 percent of claims by insurers that fall between $50,000 and $250,000, until $200 million is reached.

Under Section 1332 of the Affordable Care Act (ACA), states may seek waivers from provisions of the ACA provided they can demonstrate the changes would cover the same amount of people, provide the same level of coverage, not increase costs for patients, and be budget-neutral from a federal perspective. Submitted in April, Wisconsin’s 1332 waiver is the first approved by the federal government this year.

The Wisconsin Medical Society, informed by its Innovations in Healthcare Task Force, has supported this proposal throughout the legislative process and will continue to work with partners in the public and private sectors to decrease Wisconsin’s uninsured and maintain affordable coverage and care.

Contact Lisa Davidson or H.J. Waukau for more information.

Back to August 2, 2018 Medigram