Assembly, Senate forward reinsurance plan

The Legislature voted Tuesday to allow the state to pursue a waiver to create a $200 million reinsurance program aiming to stabilize the individual market.

The bill now heads to Gov. Scott Walker’s desk for his signature. The federal government would have to sign off on the proposal.

Walker has said funding would come through $150 million in federal money and $50 million in Medicaid savings.

The Assembly approved the bill Tuesday night 79-16. The Senate approved the bill 23-9 earlier in the day.

“This is not a Republican or Democrat issue and that’s why it received bipartisan support,” Walker said in a statement. “This is a Wisconsin issue.”