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Wyoming COBRA Insurance
Did you lose your health insurance as a result of job loss? If so, then Wyoming COBRA insurance may be an option for you to maintain health insurance coverage. The state government set up Wyoming COBRA specifically for people who do not qualify for federal COBRA because they work at companies with fewer than 20 employees. The coverage works by allowing people to continue to stay on the plan they had while they were employed for a limited period of time at full cost. It is meant to be a temporary solution to make sure people do not have to go without health insurance. However it is very expensive and may not be the right option for everyone.
Who Is Eligible for Wyoming COBRA?
Wyoming COBRA is basically an extension of the national COBRA coverage for people who work at smaller companies and therefore do not qualify under the qualifying plan requirement. This means that if you can sign up for federal COBRA, you are not eligible for state COBRA. The other requirements of qualifying event and qualifying beneficiary are exactly the same. You must not have lost your job due to gross misconduct and you can use COBRA in Wyoming if you are the employee, the spouse, or a dependent.
Is Wyoming COBRA Expensive?
Unfortunately, it is very expensive. To use this coverage you must pay both what you paid while employed plus what your employer paid plus 2%. The average cost of this coverage is over $1,050 for a family of four and over $450 for an individual. If this amount is out of your budget then you should look into private health insurance. You can get a quote for private coverage below and normally people save up to 65% with this option.
How Long Does COBRA Coverage Last in Wisconsin?
COBRA is only meant to be a short-term solution while people seek out other health insurance through a new job or through private insurance companies. Therefore the coverage only lasts for one year. The year starts from the day you would have lost your health insurance.
Can COBRA Insurance be Terminated?
Yes. There are some common reasons that your Wyoming COBRA insurance can be terminated. The most common is failure to pay your premium in full and on time. When this happens, most companies will cancel your coverage unless you call them before to work something out. Additionally if the company you worked for goes out of business or stops offering insurance, then you will also lose your coverage. Finally if you qualify for Medicare or a new insurance plan, COBRA is no longer an option.
Where Can I Find COBRA Alternatives?
The easiest way to explore all of your options for health insurance through private companies is by getting a health insurance quote below. This quote provides a long list of options at all different price ranges and with various coverage options. It is recommended to get a quote and compare the plans to your COBRA plan to find out what the best value is. For people who are generally healthy, private plans are normally much more affordable.
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Wyoming Frequently Asked Questions
Does the state of Wyoming still offer premium assistance for COBRA?
Unfortunately Wyoming stopped offering premium assistance in 2009 and there is no program now that helps people cover the cost of their COBRA premiums. Similarly the federal government also ended the COBRA premium subsidy program in 2010.
Who can I contact if I have a COBRA complaint in Wyoming?
Although it is always best to contact your employer or health insurance company first to try and resolve any COBRA complaints, if you cannot come to a resolution you should contact the Wyoming Insurance Department. They will handle your claim and determine if actions need to be taken against your employer for non-compliance.
Can I use Wyoming COBRA if I quit my job?
Yes – COBRA works for voluntary and involuntary job loss, which means that quitting a job does not disqualify you from COBRA. Similarly when you quit your job, you and your family members can continue to use the health plan for up to 18 months.
The sixty-day window to enroll in WY COBRA has passed, can I still sign up?
In most cases once the enrollment window ends you will not be able to enroll in Wyoming COBRA. You can reach out to your health insurance policy provider to ask, but in most cases people are not given a second chance.
Where do I find out how much my premium will cost for Wyoming Continuation Insurance?
The premium cost for Wyoming Continuation will be located on the enrollment form. You can see the individual cost for each person on your plan and determine whom you will enroll. You can also calculate the cost yourself.