Relating to: BadgerCare purchase option, basic plan, state-based insurance exchange, and granting rule-making authority. (FE)

This bill establishes a new basic health plan for individuals with household incomes below 200 percent of the poverty line and creates a purchase option program allowing eligible people with higher incomes to buy coverage through the state program instead of private insurance. The program would offer benefits similar to existing state coverage, include tax credits for eligible participants, and set premium rates comparable to managed care plans while requiring federal waivers to implement. It also directs the creation of a state-based insurance exchange where individuals can access these purchase options and grants officials authority to create rules needed for implementation. The bill requires a report on federal waiver status and economic analyses by March 2027 before the program can be fully launched.