June 30

MADISON - On June 30, the Wisconsin Legislature approved an increase in funding for the Wisconsin Healthcare Stability Plan (WIHSP), a state-based individual market reinsurance program, through the 2021-23 Budget Bill. WIHSP helps lower individual market premiums by partially offsetting the costs of patients with high health care needs. In each of its three years of operation, WIHSP has contributed to year-over-year reductions in average individual market premiums--even after accounting for factors that usually lead premiums to rise annually.

"The Wisconsin Healthcare Stability Plan is a demonstrated success," said John Nygren, Executive Director of the Wisconsin Association of Health Plans. "The 2021-23 Biennial Budget approved by the Legislature takes an important step to further strengthen WIHSP so it continues to deliver premium savings for consumers in 2022 and beyond. Wisconsin's community-based health plans encourage Governor Evers to support the WIHSP provisions as approved by the Legislature."

WIHSP was established in 2018 and has enjoyed bipartisan support since its inception. WIHSP is jointly funded by state and federal dollars, with the vast majority of funding provided by the federal government. Governor Evers' 2021-23 Budget Bill recognized WIHSP's successful track record and appropriated full state funding to reach the current statutory cap of $200 million. The Wisconsin Legislature further increased the state's commitment to WIHSP by increasing program funding to $230 million beginning in 2022.

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