Wyoming health insurer to close

Cheyenne, Wyo.-based WINhealth, the second-largest health insurer in Wyoming, is shutting down, according to the Casper Star Tribune.

WINhealth has been operating since 1996 and currently covers 13,000 customers. The insurer will stop offering coverage Dec. 31.

Nearly two weeks ago, WINhealth announced its intent to pull out of the healthcare exchange program under the Affordable Care Act, saying financial reasons forced it to shut down. Approximately 8,400 individuals were covered through WINhealth's program under the ACA. WINhealth expected $5 million on federal reimbursements, but on Oct. 1, CMS said it could expect just $638,000.

Only three other licensed insurance companies offer individual coverage in Wyoming.

More articles on payer issues:
Hillary Clinton has 'serious concerns' about health insurer mega-mergers
Insurance startup Collective Health raises $81M
Four dominant insurers return to Illinois exchange

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Featured Webinars

Featured Whitepapers