WPS Health Insurance to Cut 175 jobs

By: Associated Press Email
By: Associated Press Email

MADISON, Wis. (AP) -- WPS Health Insurance says it will eliminate 175 jobs over the next year.

The company said in a statement Friday the cuts stem mostly from the end of a state insurance plan for high-risk patients, which WPS has administered.

The Health Insurance Risk-Sharing Plan is ending Dec. 31 because the Affordable Care Act's health insurance exchanges will provide similar coverage starting Jan. 1.

The Wisconsin State Journal reports in a memo to employees, WPS also cites other factors for the cuts, including federal health reform, automated claims processing technology and decreased premiums "in a very competitive environment."

WPS has about 2,900 employees, including nearly 2,100 in the Madison area.

The company cut about 400 jobs early this year after losing contracts involving Medicare and a military program called TRICARE.

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