Affordable Health Insurance Plans in Wisconsin

  • June 21, 2016
  • |Quartz
|
Quartz offers a variety of affordable health insurance plans in Madison, Wisconsin.
Looking for affordable health insurance plans in Wisconsin? Check out our table of low-cost health insurance plans here and find the right fit for you.

Ranking Low Cost Health Insurance in Wisconsin

Cost is the first and sometimes only factor many consider when choosing low cost health insurance in Wisconsin. Whether picking an employer-sponsored plan, shopping for a policy on the Health Insurance Marketplace or working directly with and insurance company, people want to get a low cost health insurance insurance plan with no surprises.

However, there are a couple of things to keep in mind. You will be charged more for even low cost health insurance if you smoke, are older, have a lot of people on your policy, or live in a high medical cost area.

Below are some plans to consider when shopping for the right low cost health insurance.

 Medicaid

 Key Features

  • In Wisconsin, this low cost health insurance is called BadgerCare Plus*
  • All children under age 19 can sign up if they don’t have access to health insurance (at any income level)
  • Adults whose incomes are 100 percent or less than the Federal Poverty Line ($11,880 for one person) in Wisconsin are eligible. (Pregnant women with higher incomes and foster children have different criteria1)

Watch Out For

  • You may sign up for BadgerCare Plus any time
  • If you sign up for BadgerCare Plus and your income increases, you may have to buy an ACA-qualified plan (but will probably be eligible for subsidies)
 Supplemental Health Insurance

Key Features

Low cost health insurance that is often sold to go with other types of insurance, such as Medicare

Designed to provide extra or specific coverage where needed

Watch Out For

  • Plan is only available during Open Enrollment or if you have a Special Enrollment Period
  • You must be under age 30, or qualify for a hardship exemption, to buy this type of plan
  • If you use health care services (except for preventive care), you will pay all costs up to the deductible before the plan begins paying
  • This plan is suitable for people who do not expect to use health care services, but want coverage in case of serious accident or illness
 HDHP (High Deductible Health Plan)

Key Features

  • Very low monthly premiums
  • High deductible (in 2016, up to $6,550 for an individual plan and $13,100 for a family plan)
  • Minimum deductible is $1,300 for an individual plan and $2,600 for a family plan
  • Covers preventive services at no OOP

Watch Out For

  • Plan is only available during Open Enrollment or if you have a Special Enrollment Perio
  • Make sure any HDHP is paired with a Health Savings Account (HSA). This account allows you to save for OOP costs pre-tax. In 2016, you can contribute up to $3,350 for an individual and $6,750 for a family. Otherwise, you can likely find a better low cost health insurance plan by shopping around
  • Make sure the deductible includes health care services and
  • HDHP plans are suitable for people on either side of the spectrum – those who don’t expect to use health care services or those who need a lot of care
 Bronze Level Plans

Key Features

  • Low monthly premiums
  • High deductibles (up to $6,850)
  • Copayments for prescriptions and health care services
  • Covers preventive services at no OOP

Watch Out For

  • Plan is only available during Open Enrollment or if you have a Special Enrollment Period
  • Find out if your copays add up toward the deductible – generally they do not. Otherwise, a HDHP with and HSA is probably a better deal\
  • Find out if you’re eligible for subsidies.  If so, your premium may be greatly reduced. Depending on the subsidy, a Silver level plan may be the right low cost health insurance plan for you. See if you qualify

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