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Wisconsin insurance rates projected to drop 3.2%
By: Associated Press//August 2, 2019//
MADISON, Wis. (AP) — Wisconsin Gov. Tony Evers is crediting a reinsurance program adopted by his Republican predecessor, Scott Walker, leading to lower health insurance rates in 2020.
Evers on Friday announced that rates will decrease on average by 3.2%, thanks to a program that was approved in 2018 and took effect this year. Without it, rates on the private insurance marketplace were projected to increase by 9%.
Rates went up 44% in 2018 because there were fewer providers and declining enrollment.
Evers says the rate drop is encouraging and shows that the individual market is stabilizing and the reinsurance program is working as intended.
Although Evers backs the reinsurance program, he also advocates for accepting federal money to offer Medicaid to more people, a policy he says will also lower costs. Republicans have rejected that proposal.
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