Wyoming residents will get to choose from roughly 16 health insurance plans as the new federal health insurance marketplace opens up today. While Wyoming premiums will be higher than the rest of the country, Mike Fierberg of the Centers for Medicare and Medicaid says that tax credits will help offset the cost. He says credits will be available to low-income people, all the way up to salaries that are four-times the federal poverty level.
“Almost $46 thousand dollars a year for a single person and more than $94-thousand dollars for a family of four. And at given income you will be expected to a certain amount of money based on your income and the rest is going to be tax credit.”
Fierberg says many people have expensive private insurance in Wyoming that doesn’t always suit their needs. He says people will be able to carefully examine the health insurance places in the marketplace and determine what plan works best for them. . He says it will be a new world for many consumers.
“They will be able to afford good, high quality coverage, for the first time. And then they will be able to select policies of their choice and see them side by side on one screen. Because the insurance companies are going to have to disclose all this stuff… right up front.”
Coverage begins as early as January first. Signup is available until March.