Wisconsin Insurance Industry Leaders Worried About Move Toward Self-Insurance
Wednesday, June 8th, 2016 -- 8:11 AM
(AP) -Wisconsin insurance industry leaders are worried a potential state move toward self-insurance is already on its way to a done deal.At a Wisconsin Health News panel Tuesday, Group Health Cooperative of Eau Claire CEO Pete Farrow says he's concerned the process won't adequately assess the different options. Under a self-insurance model, the state would pay for benefits directly for about 250,000 state workers and family members instead of purchasing insurance from 17 HMOs.
State consultants have estimated the financial impact could range anywhere from $42 million in savings each year to $100 million in costs per year. State Deputy Insurance Commissioner J.P. Wieske says more information on the cost and impact of such a move will come once bids that were requested in February are reviewed.
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