On November 1, people will be able to sign up for this year’s round of health insurance coverage under the Affordable Care Act. Wyoming’s rates are expected to increase by roughly seven percent, and while the increase will be less than some other states, Wyoming’s insurance prices are typically among the highest in the country.
Many point to the fact that Blue Cross Blue Shield is the only option for those using the federal marketplace as the reason for those costs. Wyoming Department of Insurance (DOI) senior analyst Denise Burke says that so far, this has not led to unreasonably high prices.
“By all means we would love to have additional carriers,” Burke said, “but Blue Cross Blue Shield has done a good job and they’ve really stabilized the market, and so, we’ve not seen a risky market like some states have experienced.”
Burke added that those who qualify for subsidies will see those increase in an effort to offset higher insurance costs.
The department continues to encourage people to review their policy options and look for ways to reduce costs. This year, consumers will be able to compare policies on a single screen via the online marketplace, www.Healthcare.gov. Anyone with questions can contact the Wyoming DOI at 1-800-438-5768 or 307-777-7401, or visit their website. The open enrollment period for health insurance will end on January 31, 2017.