If you’re searching for a new policy or need to replace your current health insurance, it is essential to be aware of all available options available.
The Affordable Care Act (ACA) has significantly decreased healthcare costs in Wisconsin and elsewhere by providing subsidies to help people purchase affordable health coverage.
BadgerCare
BadgerCare is a joint state and federal program for Wisconsin residents who are low income or disabled, administered by the Wisconsin Department of Health Services. The initiative offers healthcare coverage to children, adults, and families throughout Wisconsin.
BadgerCare Plus is a supplemental Medicaid program that provides health insurance to those who may not qualify for traditional Medicaid but need help covering healthcare costs. Participants in the program have incomes between 100% and 400% of the federal poverty level, offering various benefits and coverage options.
BadgerCare operates under a federally approved 1115 waiver and receives funding from both Title XIX (Medicaid) and Title XXI (State Children’s Health Insurance Program). The state has received federal approval for an enrollment “trigger,” meaning if annual BadgerCare Plus enrollment exceeds budgeted amounts, the program’s income eligibility threshold may be reduced. Furthermore, the state monitors monthly eligibility reports and re-estimates annual enrollment projections to guarantee it remains within budget.
CO-OPs
Cooperatives are associations of people who share a common goal. These could include consumers, producers, workers or investors.
In Wisconsin, approximately 700 cooperatives have been formed to meet the needs of their local communities and beyond. Many of these cooperatives are flourishing in places where access to affordable quality healthcare is limited.
Many of these cooperatives are multi-stakeholder partnerships that strive to meet the needs of all their members, from farmers and fishermen to businesses and even individuals. Southern Wisconsin Meat Cooperative, for instance, is in its early stages and looking to open a meat processing plant in Argyle as a means of supporting its local community.
Co-ops can be challenging to purchase, especially for first-time homebuyers without the necessary funds. Many don’t grant renters the same rights as shareholders and discrimination against minority groups is unfortunately commonplace.
Private Insurance
Health insurance is an essential tool to help people afford medical expenses. It’s regulated by both federal and state governments.
Private health insurance programs differ in how they function. Typically, the consumer pays an up-front premium to the insurer in exchange for sharing “risk” with other enrollees who also pay similar premiums.
Depending on the plan you select, you may also have to pay deductibles and copays. You can compare these amounts and choose the most cost-effective option that meets your requirements.
If you can’t afford the price of private insurance, government programs such as Medicaid and Medicare offer affordable alternatives. You may find these through the marketplace or through your employer.
Public Insurance
Public insurance is a type of health coverage funded by the government, such as Medicare, Medicaid and Children’s Health Insurance Program (CHIP).
Private plans, which must be purchased through an insurance broker or an individual, differ from public health programs which are administered directly by the federal government. They provide coverage for a range of medical expenses from preventive care visits to long-term care.
The cost of your health insurance plan depends on your age and the level of coverage selected. You can find an affordable health insurance plan by comparing policies on the state exchange.
Wisconsin offers six tiers of health insurance plans, known as metals. The more affordable tiers, such as Bronze, offer lower monthly premiums and reduced coverage but come with higher out-of-pocket expenses.
