Availability of short-term health insurance in Wyoming

Yes. As of 2023, there were at least seven insurers offering short-term health insurance in Wyoming.

The average monthly premium for a short-term health insurance plan sold in Wyoming was $379.55 in 2022, according to data from IHC Specialty Benefits.

Under the Trump administration’s short-term insurance rules, which are applicable in Wyoming, short-term medical plans can have initial durations of up to 364 days. Renewals are permitted as long as the total duration of the coverage doesn’t exceed 36 months.

The Biden administration is expected to propose a rule change in 2023 that would call for shorter duration limits for short-term health insurance. But for the time being, short-term plans in Wyoming can have total durations of up to three years, including renewal (insurers can choose to offer shorter plans and not offer renewal).

At least seven insurance companies offer short-term healthcare coverage in Wyoming as of 2023:

• Choice Advantage (United States Fire Insurance Company)
• Allstate Health Solutions (National General)
• American National (Standard Life)
• Companion Life Insurance Company
• Everest Reinsurance Company
• Golden Rule (UnitedHealthcare)
• Pan-American Life Insurance Company

Some allow plans to have 364 days terms and renewals for a total duration of up to three years, while others limit their policy duration to shorter periods. Each insurer sets its own deductibles, benefit maximums, provider networks, coverage exclusions, and eligibility guidelines.

Short-term health insurance in Wyoming can be purchased by applicants who can meet the insurance company’s underwriting guidelines. This generally means being under 65 years old (some insurers put the age limit at 64 years) and reasonably healthy.

Short-term health plans usually include blanket exclusions for pre-existing conditions, so they are not adequate for residents of the Cowboy State who need comprehensive medical care for ongoing health conditions. Short-term medical plans can also exclude entire categories of essential health benefits — it’s common to see short-term plans that don’t cover prescription drugs, maternity care, or mental health care. So it’s important to carefully read the plan descriptions and exclusions before purchasing a short-term health policy.

If you’re in need of health insurance coverage in Wyoming outside of the annual open enrollment period for ACA-compliant major medical plans (ie, an Obamacare plan; open enrollment runs from November 1 to January 15), first check if you qualify for a special enrollment period.

There are many qualifying life events that will trigger a special enrollment period and allow you to buy a plan through Wyoming’s health insurance exchange/marketplace (HealthCare.gov) or directly from Blue Cross Blue Shield of Wyoming or Mountain Health CO-OP (the two insurers that offer ACA-compliant individual/family coverage in Wyoming).

Note that financial assistance (premium subsidies and cost-sharing reductions) is only available if you buy the plan through the exchange/marketplace.

Marketplace plans are purchased on a month-to-month basis, so you can enroll in coverage even for only a few months until another policy takes effect (with a premium subsidy if you’re eligible). So if you’ll soon be eligible for an employer-sponsored plan or Medicare, you can still sign up for a policy through the marketplace/exchange, and then cancel it when your other coverage starts.

There are times when short-term coverage might be the only realistic option, such as:

• If you missed open enrollment for ACA-compliant coverage and do not have a qualifying event that would trigger a special enrollment period.
• You’re waiting for Medicare to start, or you’re newly employed and have a waiting period before your employer will provide health benefits. If you also have a qualifying event, you can instead choose to enroll in an ACA-compliant plan and cancel it when your new plan takes effect.
• If an existing plan is terminating mid-month, and a new plan doesn’t take effect until the start of the following month. In this case, a short-term plan can be used to cover the gap, although COBRA might be a better fall-back plan, depending on the circumstances (COBRA is retroactive if you sign up during the election period after it’s offered to you).
• If you’re not eligible for Medicaid or a premium subsidy in the exchange, the monthly premiums for an ACA-compliant plan might be too costly, especially in a state like Wyoming, where individual major medical coverage is much more expensive than the national average for people who don’t get premium subsidies.

People who are ineligible for premium subsidies include those who are caught in the coverage gap in Wyoming. This applies to people who earn less than the poverty level, but aren’t eligible for Medicaid because Wyoming has thus far refused to accept federal funding to expand Medicaid under the Affordable Care Act.

There is normally an income cap for subsidy eligibility, equal to 400% of the federal poverty level. That income limit has been eliminated through the end of 2025, which means that people can qualify for subsidies even with an income above 400% of the poverty level.

Wyoming’s former Insurance Commissioner, Tom Glause, warned consumers to carefully scrutinize any plan they’re considering purchasing outside of HealthCare.gov. A press release issued in 2016 clarifies that “short-term plans set lifetime or yearly dollar limits, fail to pay for preventative health care, exclude many accidental injuries and care of pre-existing conditions”.

There are no state-specific regulations for short-term health insurance in Wyoming, so the state defaults to the federal guidelines. Until October 2, 2018, federal regulations limited short-term plans to no more than three months in duration, and prohibited renewals. But the Trump administration relaxed those rules (unless a state imposes its own restrictions) and Wyoming opted to go along with the new federal guidelines.