Unable to access adequate, affordable health insurance?
Health Insurance Risk-Sharing Plan could help many in tough economy.

For individuals who have lost their jobs, whose companies have dropped their group insurance coverage or who have exhausted their COBRA continuation of coverage benefits and don’t qualify for other programs such as BadgerCare Plus, HIRSP may be a good, affordable option.

Every state is required to have an insurance plan of last resort for people deemed uninsurable in the private market. Wisconsin’s is called HIRSP, for Health Insurance Risk Sharing Plan.  HIRSP also serves as Wisconsin’s Health Insurance Portability and Accountability Act (HIPAA) qualified plan.  As the state’s HIPAA plan, HIRSP offers insurance coverage to individuals who have lost their employer-sponsored group coverage.  Qualifying individuals can enroll in HIRSP without serving a waiting period for any pre-existing conditions they may have.

Premiums are usually about 20 percent higher than similar policies in the individual market; however, HIRSP offers a premium subsidy program for individuals with household incomes below $33,000 per year.  The premium subsidy also reduces any deductible and drug out-of-pocket maximum policyholder liability.  There are four different deductible options available with different premiums. For a 43 year-old male, the $2,500 deductible plan would have a monthly premium of $256. Prescription drugs are covered with either a $10 or $30 co-payment.

For more information on HIRSP or to review HIRSP eligibility criteria please visit http://www.hirsp.org or call HIRSP Customer Service at 1.800.828.4777.