SHIP coverage equals or exceeds the level of coverage for student health plans under the Affordable Care Act (ACA) and satisfies the individual mandate (which requires that most individuals have health insurance).
As part of the ACA, an online Health Insurance Marketplace was launched in 2013. This is a way for individuals and families who meet certain income requirements to buy private health insurance plans. Four levels of plan are offered through the Marketplace. The plans vary from each other based on the amount of out-of-pocket medical expenses that are covered. For example, the lowest cost “Bronze” plans only cover 60% of medical expenses, “Silver” plans cover 70%, “Gold” plans cover 80%, while the highest tier “Platinum” plans cover 90% of medical expenses. Individuals may be eligible for a subsidy (depending on their income) that will reduce the cost of a Marketplace plan.
SHIP domestic coverage is comparable to that of a high-end “Gold” Marketplace plan, and for many students, SHIP offers “Gold +” level coverage at a “Bronze” price. Please note that SHIP does not appear as an option on the Marketplace because student plans are not listed on the exchanges and are not eligible for premium subsidies.
Wisconsin residents with income below the qualifying requirements for a Marketplace plan may be eligible for BadgerCare Plus.