Wyoming -WY- Health Insurance Options and Regulations

As with most states, Wyoming offers a wide variety of options when it comes to medical insurance . This is welcomed news for those who are the main income providers for their families as having health insurance is of utmost importance. However, before diving into an insurance policy it is important that you are sure the provider will be providing you with adequate coverage for your family at a price you will be able to afford.

The state of Wyoming has its insurance laws regulated by the Wyoming Insurance Department. Here is how health insurance options break down for the state and how they are regulated:

• Individual: Wyoming does not require its health care providers to offer any standardized health plans. This means that the providers in the state may design a unique plan per applicant and only has to offer certain benefits as an option. Regulations also allow for medical underwriting and this allows providers to look at past and current medical history of each applicant. After review, the provider may opt to fully insure the applicant, offer an amended policy using elimination riders that will disallow certain benefits, or fully deny coverage due to health history. Wyoming does require that credit be given for past coverage, but if an applicant has no prior coverage they will be subject to a six month look back and a 12 month exclusionary period on medical conditions that are pre-existing. As there are a number of factors that are considered when determining the rate of an applicant's policy, premiums may vary.
  
  
• Small Group: The state of Wyoming defines a small group of employees as any containing two to 50 people. Thanks to the Health Insurance Portability and Accountability Act of 1996, Wyoming employers offering their small group employees health insurance must do so on a guarantee issue basis meaning that the group cannot be denied coverage due to the past health history of the group or any of its members. Group applicants that have no past coverage are subject to a six month look back and a 12 month exclusionary period on all medical conditions that are pre-existing. This rule also applies for applicants whose past coverage has a break of more than 63 days. Medical underwriting procedures assure that rates within the group vary plus or minus 30 percent of the indexed rate.
  
  
• COBRA: Federal regulations allow for groups of 20 or more who have lost coverage due to a qualifying event to take advantage of COBRA for up to 18 months. However, Wyoming has instituted its own mini-COBRA plan which allow for groups of less than 20 to be able to get continuing coverage for up to 12 months. Election for this option must be made within 31 days of the loss of your group coverage to ensure no loss of benefits. Utilizing mini-COBRA means that it is the sole responsibility of the insured to pay all premiums that the current provider requires.
  
  
• Continuing Coverage: For those who have either exhausted their COBRA or do not qualify for the program, there is the Wyoming Health Insurance Pool. This state run program is guaranteed issue regardless of past or present health history.

Though you may never know when you will need to take advantage of having quality health insurance it is nice to know that you do in fact have it. In order to be prepared for anything that comes your way, you should be sure that you and your family are fully covered with an adequate health insurance policy.

Medical insurance quotes

Major Medical Insurance Quotes

Group Health Insurance Quotes