Wyoming Health Insurance Pool
Residents of Wyoming who do not qualify for any of the low cost
health insurance plans at
are eligible for the Wyoming Health Insurance Pool. This health plan was
created by the 1990 Wyoming Legislature to provide health insurance
coverage to residents of Wyoming who are denied adequate health
insurance. This plan is specially designed to meet the needs of those
individuals who are unable to purchase health insurance for themselves
because of existing health problems.
The brochure, the application and the current premium rates are available for download in Microsoft Word 6.0 format for the WHIP program at http://insurance.state.wy.us/consumer.html .
In addition to the requirement of being a state resident of Wyoming, applicants must prove one of the following:
1) They were rejected for coverage under at least one other similar health insurance coverage by at least one insurer.
2) They are presently insured under a health plan with a higher premium. If their present insurance has a higher premium than offered under their plan, state residents are automatically eligible for coverage under this health plan even though they are currently insured.
3) Their present health insurance policy has a rider or rating.
4) Qualify for coverage under a reciprocity agreement with another state where they have been enrolled under a similar state plan, has met the pre-existing waiting period and has not used up the lifetime maximum.
Residents in the following categories are not eligible for this health insurance:
1) eligible for Medicare
2) eligible for Medicaid
3) were dropped this plan for non-payment of premiums within the past 11 years
4) are an inmate in any prison
5) have exhausted the maximum lifetime benefits under this plan
The cost of this program is significant, ranging from a minimum of $300 per month for a young applicant to more than $1000 per month for an older applicant so special financial planning accommodations are often necessary to meet this extraordinary expense.
FINANCIAL PLANNING CONSIDERATIONS
It is reasonable to assume that the high cost of this health plan combined with related expenses (out-of-pocket medical expenses, loss of work, drop in household income, etc.) most individuals covered under this plan will soon deplete their assets to the point where they become eligible for Medicaid and therefore would no longer bee eligible for this health plan. For this reason it makes sense to determine as early as possible a financial plan that will either: a) make the applicant eligible for Medicaid as soon as possible while protecting whatever assets allowable, or b) insulate assets from health cost claims while ensuring that funds for premium payments are available. This may be accomplished with the use of a trust account. OnlineAdviser service can help with this type of financial planning.
Additional information is available from the Wyoming Health Insurance Pool Administrator (Blue Cross Blue Shield) in Cheyenne, WY, toll free in Wyoming at 1-800-442-2376 or outside Wyoming at 307-634-1393.