Wyoming Individual Health Insurance

Health insurance is a crucial protection to have for every person and every family. If you don't get group health insurance through your employer, then you should look into purchasing Wyoming individual health insurance from a private insurer. There are laws and regulations in Wyoming surrounding these individual health insurance policies that you should be aware of, in order to make a more informed decision.

Eligibility: How Am I Evaluated?

For starters, applications are reviewed based on an applicant's age, the number of people seeking coverage, health status, or any other criteria set forth by the insurance provider. In Wyoming, health insurance applicants can be turned down for any reason, including health status.

To comply with HIPPA Group-to-Individual Portability Coverage regulations, Wyoming guarantees acceptance into the state's High Risk Pool for those who were denied coverage from a private provider or offered a reduced or restricted plan.

Wyoming Guaranteed Benefits & Pre-Existing Conditions

Wyoming does not require insurers to carry any sort of standardized health insurance plan; but does require all policies to cover certain benefits, such as treatment for diabetes.

When it comes to pre-existing conditions, Wyoming law allows insurers to apply an exclusionary period or add the policy to an elimination rider. With an exclusionary period, the condition(s) will be excluded from your policy for up to 12 months and the insurer is also allowed a 6 month look back period to determine what should be included in the exclusionary period. With an elimination rider, all listed conditions will be excluded from your policy indefinitely.

Wyoming Individual Health Insurance Premiums

Wyoming individual health insurance premium rates are determined based on criteria used by each individual insurance provider, including age and health status. There is no limit on how much you can be charged for a policy and an insurer can offer you a higher or lower rate based on your age, health status, or any other factor.

Lastly, your insurance provider can raise your premium rates upon renewal for any reason, including increasing age or declining health. On the other hand, your policy cannot be cancelled because of your health status and you are guaranteed the opportunity to renew your policy at the end of its term, regardless of your health status. This regulations help to protect both the consumer in declining health and the insurer at the same time.