The Cheapest Wyoming Health Insurance for Individuals and Families
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If you are wondering how to get health insurance in Wyoming, you can get it through your employer, government programs or by purchasing it from a private insurance company. In the event you can’t get your coverage through your employer or a government program like Medicaid and Medicare, you will need to purchase it from a private insurer.
Keep in mind that if you select a plan with low monthly premiums, you will likely pay a higher deductible and higher out-of-pocket cost, costing you more money overall.
The cost of health insurance in Wyoming depends on several factors, including the coverage level, deductible and your age. You can use MoneyGeek’s research from the Wyoming insurance marketplace to find the cheapest plans for different ages and coverage amounts.
The Cheapest Health Insurance in Wyoming by Metal Tier
Health insurance plans in Wyoming are in four different metal tiers, including Bronze, Expanded Bronze, Silver and Gold. These tiers are used to determine premiums, deductibles and out-of-pocket costs. If you choose a plan that has a metal with low value, you will likely pay lower monthly premiums but higher out-of-pocket maxes and vice versa.
The average monthly costs for the four tiers in the state vary as follows:
- Bronze: $532 per month
- Expanded Bronze: $544 per month
- Silver: $721 per month
- Gold: $654 per month
In Wyoming, the Silver tier is more expensive than the Gold tier, on average. This type of exception can happen in certain markets.
If you have a medical condition that incurs huge expenses or if you anticipate spending more on medical costs, purchasing a Gold plan can help you save on your out-of-pocket maxes. If your costs are less likely to be high, you can consider getting the Bronze or Expanded bronze plan to pay lower premiums.
To better understand how health insurance costs vary across the four tiers in Wyoming, you can use the table below. Note that out-of-pocket costs and deductible amounts also vary between the tiers.
Residents of Wyoming with low incomes may be eligible for cost-sharing reductions if they purchase a Silver plan for their health insurance. Cost-sharing reductions (CSRs) allow you to pay lower deductibles on your preferred plan while getting more coverage.
The costs used by MoneyGeek in this study are for PPO healthcare insurance plans, which are the only plans available in Wyoming.
Cheapest Health Insurance in Wyoming by Metal Tier
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- Metal TierPlanCompanyMonthly CostOOP Max
- BronzeBlueSelect Bronze BasicBlue Cross Blue Shield of Wyoming$509$8,550
- Expanded BronzeHigh Plains BronzeMountain Health CO-OP$474$8,150
- SilverHigh Plains SilverMountain Health CO-OP$545$8,550
- GoldHigh Plains GoldMountain Health CO-OP$597$6,500
The Cheapest Health Insurance in Wyoming by Age and Metal Tier
In Wyoming, age is one of the factors that determine how much you pay for your monthly health insurance premium. Older people tend to pay more than younger ones. For example, a 26-year old buyer pays an average of $578 for a Silver plan, while a 60-year old pays $1,531 on average. These rates are based on a PPO health insurance plan.
Health Insurance Costs in Wyoming by Age and Metal Tier
MoneyGeek’s research uses sample ages. You may pay more or less than the figures used in this study not only because of your age but for several other reasons as well. Older people tend to pay more for most health insurance marketplaces. However, there are situations where their rates are lower, like in markets that have tax premiums and other regulations. This means that you won’t be able to tell the exact cost of your plan until you apply for it.
You can use the table below to compare the differences in cost across the various metal tires and ages. For more detailed guidance on choosing the right tier for your health insurance needs, check out the MoneyGeek health insurance guide.
Cheapest Health Insurance in Wyoming by Age And Metal Tier
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- PlanCompanyMonthly Rate
- BronzePPOBlue Cross Blue Shield of Wyoming$364
- BronzePPOBlue Cross Blue Shield of Wyoming$388
- BronzePPOBlue Cross Blue Shield of Wyoming$388
- Expanded BronzePPOMountain Health CO-OP$339
- Expanded BronzePPOBlue Cross Blue Shield of Wyoming$377
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The Cheapest Health Insurance in Wyoming by County
Your location determines how much you pay for health insurance in Wyoming. The state comprises three rating areas and 23 counties. The average rates vary significantly across each rating area.
The most populous county in the state is Laramie, with the cheapest Silver plan costing $600 per month. This cost is for the High Plains Silver Plus plan from Mountain Health CO-OP.
To find the cheapest health insurance in Wyoming for your county across all the available tiers, please see the table below.
The prices listed in the above table represent what a 40-year-old male pays for health insurance coverage across each tier for the named county.
Cheapest Health Insurance Plans in Wyoming by County
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- Metal TierCompanyCheapest PlanMonthly Premium
- NatronaBronzeBlue Cross Blue Shield of WyomingBlueSelect Bronze Basic$525
- LaramieBronzeBlue Cross Blue Shield of WyomingBlueSelect Bronze Basic$478
- AlbanyBronzeBlue Cross Blue Shield of WyomingBlueSelect Bronze Basic$525
- Big HornBronzeBlue Cross Blue Shield of WyomingBlueSelect Bronze Basic$525
- CampbellBronzeBlue Cross Blue Shield of WyomingBlueSelect Bronze Basic$525
The Cheapest Health Insurance in Wyoming With High Out-of-Pocket Maxes
MoneyGeek defines a high out-of-pocket cost as one that is at least $8,250. If you are still young, you may want to consider buying a plan that features lower premiums with higher out-of-pocket maximums and deductibles since you are likely to incur lower medical expenses than an older person. With this plan, however, you will be required to pay more out of pocket in an emergency.
The cheapest health insurance plan with high out-of-pocket maxes is the BlueSelect Bronze Basic from Blue Cross Blue Shield of Wyoming, at an average cost of $408 per month for a 26-year-old.
Blue Cross Blue Shield of Wyoming
The BlueSelect Bronze Basic from Blue Cross Blue Shield of Wyoming is the cheapest health insurance plan in Wyoming with high out-of-pocket maximums. The cost of this plan is $408 per month on average and belongs to the Bronze plan.
The Cheapest Health Insurance in Wyoming With Low Out-of-Pocket Maximums
If you are anticipating higher medical costs in the coming year, you may want to choose a health insurance plan with lower out-of-pocket costs. With lower out-of-pocket limits, your insurer will pay more of your medical expenses.
The cheapest health insurance plan in Wyoming with low out-of-pocket maximums is the High Plains Gold from Mountain Health CO-OP. The cost of this plan is $720 per month on average for a 40-year-old male.
According to MoneyGeek’s research, a health insurance plan has a low out-of-pocket max if its MOOP is less than $4,250. While the High Plains Gold plan has a relatively low out-of-pocket maximum, its cost of $6,000 is slightly higher than some plans that fall below $4,250.
Mountain Health CO-OP
For an average 40-year-old male, the most affordable health insurance in Wyoming with a low MOOP is the High Plains Gold from Mountain Health CO-OP, costing $720 per month. This plan is in the Gold tier, meaning that it has higher premiums with lower out-of-pocket maximums for your coverage.
Cheapest PPO Health Insurance Plan in Wyoming
When purchasing health insurance in Wyoming, be sure you understand your medical needs and what your preferred coverage should entail. Wyoming only has PPO plans which, by default, are the baseline plan type for all people buying private health insurance.
A PPO plan typically has average monthly premium costs, as well as a wider provider network. The PPO plan, however, does not allow you to see a specialist outside your network without a referral.
According to the MoneyGeek research, the cheapest health insurance in Wyoming for the PPO plan and the silver tier is:
- PPO: High Plains Silver Plus from Mountain Health CO-OP, at roughly $583 per month for a 40-year-old male.
Cheapest Plan in Wyoming With an HSA
A Health Savings Account (HSA) may appeal to you if you rarely go to the doctor. The goal of an HSA is to allow you to convert your premiums into savings if you do not use up your limits at the end of the insurance period. However, you may end up using these savings in the event of an emergency that results in huge medical costs.
From this research, the best health insurance in Wyoming on average with HSAs for each metal tier are:
- Expanded Bronze: The cheapest plan is BlueSelect Bronze Core from Blue Cross Blue Shield of Wyoming at $527 per month.
- Silver: High Plains Silver Plus from Mountain Health CO-OP at $583 per month.
- Gold: BlueSelect Gold Core by Blue Cross Blue Shield of Wyoming, costing $633 per month.
While HSA based insurance plans are good for saving, they have high deductibles and may not be ideal if you visit the doctor frequently.
What to Know About Health Insurance in Wyoming
The costs quoted in this study are from private plan data sourced across the Wyoming insurance marketplace. While these costs represent averages across different tiers, you may have different premiums for your plan depending on various factors.
Government programs, such as Medicare and Medicaid, offer cheaper alternatives to private insurance plans. However, only low-income residents or those who are at least 65 years of age are eligible.
Private Health Insurance on the Wyoming Marketplace
In Wyoming, each health insurance plan falls among the four tiers. Bronze and Expanded Bronze tiers are the cheapest in the state. However, you will need to pay more out of pocket while settling your medical costs. Silver and Gold tiers are a bit expensive but have lower out-of-pocket costs.
Understanding the advantages and disadvantages of each tier can help you make the right decision on which one to purchase:
- Bronze: The Bronze tier has higher out-of-pocket maximums but is the cheapest in Wyoming. You can consider purchasing this if you do not expect to incur pricey medical costs in the next insurance period.
- Expanded Bronze: This is the second cheapest and provides more benefits than the Bronze tier. However, its maximum out-of-pocket expenses are slightly higher. This tier is ideal for individuals who need to pay significantly lower premiums but still have adequate coverage in case of an emergency.
- Silver: The Silver tier has lower deductibles and out-of-pocket maximums than the Bronze and Expanded Bronze plans. This could save you money if you will have higher medical costs in the upcoming plan year.
- Gold: Plans in this tier could be ideal if you anticipate substantial medical costs in the next year. This is because they have the lowest out-of-pocket maximums of all the tiers.
Depending on your income level, you may find cheaper plans with better coverage within the state. You may also be eligible for premium tax credits if your income is between 100% and 400% of the federal poverty level. Typically, this range is between $17,420 and $69,680 per year. You can find more information about this using the Healthcare.gov calculator.
Open enrollment is a period where you can enroll in or renew your existing healthcare plan through the insurance marketplace. This typically happens between November and December. However, dates have been expanded due to COVID-19.
If your income is between 138% to 250% of the federal poverty level, you may also qualify for cost-sharing reductions. In Wyoming and various other states, two-person households whose income ranges between $24,040 and $43,550 qualify for CSR. However, they must have a plan in the Silver tier. It’s possible for people who qualify to get Gold plan coverage at the Silver plan price.
Medicaid in Wyoming
Medicaid is a free government program that provides a cheap alternative to private insurance. Wyoming is among the states that are yet to adopt Medicaid expansion. That means that your eligibility for the program is not based on your income. Buyers only qualify based on statutory guidelines. In most cases, the program is given to pregnant women, families with very low incomes and individuals with disabilities.
Medicare in Wyoming
If you are 65 years and older, you might be eligible for Medicare, a government program that is similar to Medicaid but requires that you pay a portion of your medical costs. This program is also available for people with disabilities and pre-outlined illnesses.
One advantage of Medicare is that the amount you pay out-of-pocket is significantly lower than what people with private insurance are charged.
Medicare insurance comes in three parts. These are:
- Part A: This is hospital insurance and only covers costs associated with nursing facility care, hospice and hospital-based care. It may also include certain home care services.
- Part B: This is medical insurance and deals with costs associated with outpatient services, including doctor appointments. It also includes any preventive services and medical supplies that you receive during treatment.
- Part D: The prescription part covers the cost of prescription drugs and vaccines.
While Medicare is relatively cheap, it also has its shortcomings. You will need to read through the policy guidelines before applying for the program.
Methodology
MoneyGeek's research is based on estimates, and the cheapest plan for you will depend on your individual needs and characteristics. This analysis is intended to serve as a guide and no single plan is guaranteed to be the cheapest in Wyoming for you
MoneyGeek collected plans and premiums for health insurance in Wyoming from the Health Insurance Exchange Public Use Files (Exchange PUFs) for all available metal tiers and across several age groups.
Health insurance premiums on this page are an estimate and exclude potential premium tax credits and cost-sharing subsidies that users may be eligible for.
About Mark Fitzpatrick
sources
- HealthCare.gov. "Health Plan Categories." Accessed June 16, 2021.
- Medicare.gov. "What's Medicare?." Accessed June 16, 2021.