Wyoming Faces Over 2,500 Insurance Cancellations
CHEYENNE, Wyo. (AP) — Private insurance companies have given notice to the state of Wyoming that they plan to cancel over 2,600 health insurance policies for state residents largely because of increased regulation and higher minimum standards set by the federal Affordable Care Act.
Wyoming Insurance Commissioner Tom Hirsig says the cancellations mostly will take effect in December and March. Other companies already have cancelled over 500 health policies in the state.
Hirsig says many of the customers whose policies are being cancelled would qualify for federal subsidies to get approved health insurance under the Affordable Care Act. However, he says it’s unclear when government-approved coverage will be available on a federal Web site that’s been plagued with problems.
Federal officials have said the Web site should be functional by the end of November.