The number of Wyoming residents registered for subsidized health insurance under the Affordable Care Act continues to rise.
About 23,770 people registered for coverage through the federal health insurance marketplace before this year’s January 31 deadline, said Wyoming Insurance Commissioner Tom Glause. That’s an improvement of more than 21,000 since 2015.
Glause also noted that the penalties for those who fail to secure health insurance since registration began three years ago. This year, the maximum penalty hit $695, or 2.5% of the individual’s income—whichever is highest.
The only insurance company offering insurance under the marketplace program in the state is Blue Cross Blue Shield of Wyoming. The only other company, WINhealth, closed last year, leaving 13,000 of its policyholders to find insurance elsewhere.
Tax credits to offset the cost of coverage are available to those below 400% of the federal poverty level.
The U.S. Department of Health and Human Services revealed in a recent release that more than 80% of those who registered for the program qualified for a tax credit. The agency also said that the average premium after tax credits was at $117 a month.
The average tax credit is $454 a month in Wyoming, which is enough to cover 80% of the gross premium.
Wyoming’s health coverage costs are some of the highest among the lower 48 states. Officials cite the state’s low population density and large land area.
Blue Cross & Blue Shield of Wyoming senior official Wendy Curran additionally believes that the high costs are because of Wyoming Legislature’s refusal of federal funding to expand Medicaid coverage to those who are barely over the federal poverty line.
