Obamacare in Wyoming
Wyoming has 21,092 beneficiaries that receive health insurance from the Affordable Care Act, also known as Obamacare. Many of those beneficiaries are younger adults, thanks to some of the policy changes brought about by Obamacare. Parents are able to share health insurance with their children until they turn 26. Obamacare introduced many other changes to health insurance, designed around either making health insurance less expensive for lower income families, or changing the requirements so applicants could no longer become denied because of preexisting medical conditions. Learn more about Obamacare in WY from the following:
- Did Wyoming accept the Obamacare Medicaid expansion?
- Does the state or federal government run the health insurance exchange in Wyoming?
- Eligibility for Obamacare in Wyoming
- How to apply for Obamacare in Wyoming
- Health plan cost and availability in Wyoming
Did Wyoming Accept the ACA Medicaid Expansion?
One of the optional components of Obamacare is the Affordable Care Act Medicaid expansion, which was not accepted in Wyoming. What is the Obamacare Medicaid expansion? The Obamacare Medicaid expansion focused on helping lower income individuals or families get Medicaid coverage for free, if they fall below a certain point on the federal poverty limit. Initially, looking at what is the expansion of Medicaid makes it seem like it has no downsides. The ACA Medicaid expansion cost to states is one of the reasons that the policy was denied in Wyoming.
While the expansion could be helpful, the federal government was only going to cover the entirety of the costs for three years. After that period, the Obamacare Medicaid expansion details state that they would pay a large portion of the funding, but not all of it. Once that happened, Wyoming would have to pay for the remaining funds, which would mean raising taxes or moving funds from another area. Raising taxes would ultimately hurt anyone who met the Obamacare Medicaid eligibility under the expanded plan. The Obamacare Medicaid application in Wyoming reflects the fact that the expanded plan is not included. The basic Medicaid plan is still available in Wyoming as it does not have the eligibility changes from the expanded package.
Does the State or Federal Government Run the Health Insurance Exchange in Wyoming?
What is the marketplace for health insurance in Wyoming? Wyoming uses something known as the Obamacare health insurance exchange to sell insurance plans. What is the health insurance exchange? The health insurance exchange is a website that collects information about all of the available insurance providers and what plans they have in one easy to access marketplace. Applicants can go through the Obamacare health insurance exchange to get an idea of all the plans that are available in the area.
Each state was given the option of running its own Obamacare healthcare marketplace, or letting the federal government do it for them. One of the downsides to the state running the site is it has to handle health insurance exchange regulations and cover the cost for things like maintenance and upkeep. Wyoming decided to let the federal government run the health exchange to help keep costs down.
Eligibility for Obamacare in Wyoming
What are the requirements to apply for Obamacare in Wyoming? Obamacare revolutionized the way that health insurance eligibility functioned. In the past, an applicants could be denied based on his or her income level, or if there was any preexisting medical conditions experienced. How to qualify for Obamacare was changed to make it much more inclusive, and to keep insurance companies from charging more for customers that already had existing medical conditions. Obamacare coverage eligibility requirements are practically nonexistent. Anyone who is eligible for Obamacare has to be a resident of Wyoming, not be incarcerated, and must be able to prove that they are a legal United States citizen.
The application does ask several questions about income, which might worry new applicants. Obamacare income requirements only exist to determine benefits like tax credits and types of discounts. Applicants cannot be denied basic coverage because of their income level.
How to Apply for Obamacare in Wyoming
The federal government has tried to make how to enroll in Obamacare as easy as possible for applicants. Those worried about how to get Obamacare should understand that it is made much easier thanks to all of the plans being available from the health insurance exchange. How to apply for Obamacare insurance is a relatively straight forward process, that does not require too much in the way of personal information. Applicants usually ask beforehand “What do I need to apply for Obamacare in Wyoming?” What is needed to sign up for Obamacare consists of basic financial information. Applicants should have past pay stubs and their previous tax returns on hand. Applicants should also bring information on any previous health insurance plans they were on. Applicants that previously received disability for a medical condition will need to bring any documents pertaining to that when they apply.
Unsure of where to apply for Obamacare in Wyoming? It is possible to apply for health insurance in a few ways. Potential beneficiaries can get the applications online or by visiting with a health insurance agent. Applicants can fill out the forms and send them in via mail. Applicants wondering “Can I apply online for Obamacare?” will be happy to know that the health insurance exchange allows applicants to apply directly from the marketplace. Applicants who want assistance with the application can also apply over the phone or in person with a health insurance agent.
Health Plan Cost and Availability in Wyoming
The big question that applicants wonder is “How much will Obamacare insurance cost me in Wyoming?” How much does Obamacare cost? The cost will be dependent on the provider and which plan they are offering. Obamacare health insurance plans costs are more expensive for plans that provide extra coverage. When filling out an application or working with an insurance agent, it is possible to get Obamacare health insurance price estimates based on the financial information provided by the applicant.
Wyoming is the only state that has a single health insurance provider on the marketplace. Despite having one provider, there are still 40 different plans to choose from. In previous years, there were only 16 plans available. 91 percent of beneficiaries in Wyoming qualify for $400 worth of tax credit each month. Nearly half of all beneficiaries in Wyoming pay less than $100 after using their tax credits or other discounts.