Wyoming Health Insurance and You
The Wyoming Insurance Department regulates the health insurance companies in Wyoming, and they are a good starting point for you to understand how your health insurance works. This department licenses and regulates insurance companies in their rates, their policy filings, and they also investigate consumer complains. In addition, they collect premium and surplus line taxes.
Your current health insurance company in Wyoming is licensed by the Insurance Department, who oversee all the operations within the state. The department also examines the financial activity of health insurance companies in Wyoming to ensure that all agencies are complying with Wyoming health insurance laws and not increasing their rates unfairly. They review all policy filings from health insurance companies in Wyoming to ensure conformance with Wyoming state laws and regulations.
The Wyoming Insurance Department also field customer complaints. The department provides the best possible consumer protection by investigating complaints and resolving issues about health insurance matters.
Wyoming Health Insurance Pool
The Wyoming Health Insurance Pool (WHIP) (http://insurance.state.wy.us/whip.html) was created in 1990 to serve residents by providing them with affordable insurance, or to those who have been denied coverage by other health insurance companies in Wyoming.
See if you are eligible for the Wyoming health insurance pool by answering the following questions:
- Are you currently a Wyoming resident?
- Do any of the following apply to you?
b. I have lost group coverage or exhausted my COBRA coverage
c. I have received notice that my health insurance will be ending
d. I have met my maximum lifetime coverage on my current health insurance policy
e. The premium i pay with my current group coverage is 12.5% higher than the rate for the pool
f. I am under 65, on Medicare Disability, and not eligible for group coverage
- If you have been in the Wyoming Health Insurance Pool (WHIP) (http://insurance.state.wy.us/whip.html),
b. Has WHIP terminated your coverage less than 12 months ago?
- Are you eligible for group health insurance or other insurance arrangements sponsored by your employers?
- Before your coverage expires, do you have 12 months of continuous coverage with gaps of more than 90 days?
- Have all your coverages in the last 12 months been creditable coverage, such as employer-based health plans, individual health plans, Medicare or Medicaid, CHIP child health care?
If you answered “Yes” to all BUT number 4, you may be eligible for WHIP’s affordable health insurance.
Why is it important to have affordable health insurance in Wyoming?
Health insurance covers most of the financial burden after you receive medical services. But, the health insurance industry is a business, and therefore needs to make profit. Health insurance companies make their money by collecting premiums from their customers. These monthly premiums can get expensive, and more and more Wyoming residents are finding it difficult to make their monthly payments.
To reduce your monthly premiums, try the following tips:
- Shop around. Get quotes online and see if your health insurance company can match the lower rates.
- Ask about discounts. If you practice good health, you may be eligible for savings on your health insurance.
- Stay informed. Know about the health insurance companies in Wyoming and what they should be charging you. You can do this by finding health insurance quotes online and using it as a basis for fair prices for service. Do not let your health insurance company take advantage of you by increasing your premiums or charging too much for your heath insurance benefits.
