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Wis. governor signs bill to create state reinsurance program

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Wis. governor signs bill to create state reinsurance program

Wisconsin Gov. Scott Walker has signed a legislation that creates a state-based reinsurance program for health insurance providers and allows the state to use a state innovation waiver under Section 1332 of the Affordable Care Act.

The reinsurance program is estimated to lower healthcare premiums for those in the individual market by 13% in 2019 and by 12% in 2020, according to a statement from the governor's office.

Walker expects his healthcare stability plan to cost $200 million, the Insurance Journal reported. He has also authorized Wisconsin Attorney General Brad Schimel to lead a multistate lawsuit against the government over the healthcare law.