Wyoming Health Insurance Pool Act-eligibility.

09LSO-0183.L1

FISCAL NOTE

This bill changes one of the eligibility rules for the Wyoming Health Insurance Pool (WHIP).  Currently, persons who are eligible to participate in a group health insurance plan provided by an employer are not eligible to participate in the Pool.  This bill creates an exception to this rule where the cost to insure the individual or his employed family member in the group plan is offered at a rate exceeding the applicable pool rate. 

The bill would not increase or decrease revenues to the State of Wyoming.  The bill would increase the number of individuals eligible to participate in WHIP and these individuals would pay premiums to WHIP, which, by statute, is a separate nonprofit entity.  WHIP is funded by a combination of premiums, assessments of health insurers and premium tax credits from the state.  Recently, the state has also provided General Fund monies to subsidize lower income individuals in the pool.  This amount is currently set at $6 million for the 2009-10 biennium.

Although this bill may increase the number of persons eligible for WHIP participation, claims payments to these persons are made by WHIP and the funding for WHIP is currently set by statute.  WHIP, a separate nonprofit entity, is funded through a combination of premiums, assessment of health insurers, premium tax credits and general fund monies.  All of these funding mechanisms are capped in some way by statute.

Prepared by:   Dean Temte, LSO    Phone: 777-7881

(Information provided by Ken Vines, Insurance Department; 777-6894)