Gov. Scott Walker signed his Health Care Stability Plan in Green Bay Sunday after the federal government approved it.
The governor says it will lower health insurance premium rates in the individual health insurance market.Walker made the request for the reinsurance program through the federal government in April. He signed the waiver into effect at HSHS St. Mary's Hospital.
The federal waiver will allow Wisconsin to offer a $200-million re-insurance program. Walker believes this will stabilize the market and attract more insurance providers to the private marketplace. He says this will translate to lower premiums and more competition.
"We believe it will actually help the market overall both for individual and for people who get their insurance through group insurance plans, which are through, often times, through midsize and larger employers," the governor said Sunday.Democrats say it will actually cost people more in the long run.
"Walker claims that the premiums are going down, because of his reinsurance program, but they're actually rising by $14-hundred. He's a typical politician in an election year saying up is down and down is up," said TJ Helmstetter, with the Democratic Party of Wisconsin.
The program will take effect in January 2019 and will be good for five years.
For more go to WKOW: http://www.wkow.com/story/38761648/2018/07/29/gov-walker-signs-health-care-plan-sunday