On a media call today that included State Senators Chris Larson and Jon Erpenbach, Citizen Action of Wisconsin released the 8th Annual Wisconsin Health Insurance Cost Rankings 2014 report. The new report sheds light on how health insurance hyperinflation is impacting the major regions of the state. Click here to hear the audio of the media call.
Since its inception in 2006, the annual Wisconsin Health Insurance Cost Ranking report has received a great deal of attention across the state because it provides such a measure. The report has consistently shown that although costs are high across Wisconsin, that some regions of the state pay thousands of dollars more for health insurance than others.
There is a 23% variation between the highest cost major metro area (Milwaukee and Racine) and the lowest cost metro area (Madison), which amounts to a $1,801 difference for a single policy each year.
- On the small group market, the regional cost variation is even greater. The high cost area (the region of Wisconsin near Minnesota’s Twin Cities) has rates 55% higher than the lowest cost area (Janesville and Beloit), which a mounts to $2,724 more per year for single coverage. Eau Claire has rates 30% higher than those in Janesville and Beloit, which amounts to a $1,440 difference per year.
- Wisconsin health insurance rates have nearly doubled since 2000, increasing 201% for a similar benefit package, with regional rates of inflation varying between a low of 163% in Madison to 339% in Green Bay and 227% in Appleton and Oshkosh.
This report, as it has previous years, finds that there is no correlation between quality and health insurance costs, with some of the low cost areas of the state having higher quality insurance plans and some higher costs areas having lower quality.