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Wyoming Small Business Health Insurance

Wyoming is one of the “big air” states of the west, where life is more relaxed, the people less rushed and more polite, and business attitudes more optimistic. In many ways, Wyoming seems to be a state of small business. In 2002, 69.3% of non-farm employees worked within a business that employed less than 500 workers. With such a high percentage of small business employees, it would seem that health insurance, which is a staple of small business success, would be offered by a large percentage of Wyoming employees. However, the state lagged behind the national average, offering insurance to only 31.9% of their small business employees.

Perhaps small businesses are afraid of the contribution percentage of employers who are helping their employees gain health insurance. In 2003, small employers provided 85% of the premium costs for health insurance. With such an expense, it is no wonder that many employers don’t offer coverage. Fortunately, insurance carriers in Wyoming are working hard to provide the small business owner with access to group plans that are affordable and satisfactory, in accordance with the state's insurance regulations.

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Featured Wyoming Small Business Health Insurance Providers

If you are looking for information on Individual or Family Plans in Wyoming, products are available from the following:

• Celtic Insurance Company
  
  
• Time Insurance Company

Wyoming’s Insurance Regulations

• Insurers have to offer each employer of 2-50 employees the same health insurance plans they offer to other employers in the state. Minimum participation or contribution rates may be imposed. In addition, insurance cannot be cancelled due to the illness of one member of the group.

• There is a limit to how much more Wyoming insurance companies can charge a small business due to the risk or health status of members enrolled in a group plan. Within these limits, though, premiums can vary according to age and other demographic characteristics.

• Wyoming insurance carriers can only increase premium costs at renewal by a particular amount due to claims experience of the group.

• Self-employed individuals with no other workers are not eligible to enroll in a small business health plan. However, premiums can be deducted from taxes if the self-employed are under an individual plan. 

Request a free online quote for more information on Small Business solutions in Wyoming >>