Wyoming is a large state with a lot of land to explore – but you don’t have to get lost looking for a Wyoming Medicare Supplement plan. The Cowboy State has 30 Medicare Supplement insurance companies to choose from.
Once you find out how much Medicare Supplement plans cost where you live, you can choose a plan to help take care of your healthcare needs for many years to come.
How Much Do Wyoming Medicare Supplement Plans Cost?
Medicare Supplement plans in Wyoming cost a little over $100 per month on average. The specific amount you will pay for a policy can be lower or higher based on a number of factors, such as your ZIP code.
HealthCare.com analyzed how much Medicare Supplement plans cost in Laramie. Below are a 65-year-old’s price ranges for each plan type as of October 2019:
Plan A: $75 – $189
Plan B: $91 – $215
Plan C: $110 – $244
Plan D: $102 – $188
Plan F: $114 – $223
Plan F-HD: $29 – $65
Plan G: $100 – $198
Plan K: $45 – $99
Plan L: $73 – $139
Plan M: $100 – $153
Other Factors That Affect Medicare Supplement Costs in Wyoming
- The plan type you choose: Medicare Supplement plans Wyoming come in 10 standard types plus high-deductible Plan F. Plans are represented by letters A through N.
- The company offering the plan: Plans are sold by private insurance companies. Companies can determine how much to charge you for a policy.
- Your age: Most Wyoming Medicare Supplement insurance companies charge the same initial rate for residents ages 65 to 69. Rates are higher for those ages 70 to 74 and even more for those 75 to 89.
- Tobacco smoker status: a Medicare Supplement policy will cost you more if you use tobacco.
- Your gender: In Wyoming, Medigap carriers may have different rates based on your gender.
Which Medicare Supplements Plans Are Available In Wyoming?
When you enroll in Medicare, you get Part A hospital insurance and Part B medical insurance. However, Medicare Part A and B aren’t designed to cover all your medical expenses. That’s where Medicare Supplement (also called Medigap) comes in.
Wyoming is one of the many states that allow all 10 standard Medicare Supplement insurance plans. Wyoming Medicare Supplement companies don’t have to sell all 10 plans. They at least have to offer Plan A, the most basic plan.
Wyoming insurers that decide to sell other plan types must also offer Plans C and F. However, Plans C and F can no longer be sold to individuals who will be eligible for Medicare on or after January 1, 2020. These individuals will be offered Plan D or Plan G instead. If you’re enrolled in Medigap Plan C or Plan F prior to 2020, you will be able to keep your plan for life.
Medigap plans work across the country, but they’re made available for initial sale based on your ZIP code. Because Wyoming has the sparsest population of any state in the country, you’ll likely find more Medigap plans offered in areas with a higher concentration of people, such as Cheyenne, Casper, or Laramie.
How Many Wyoming Residents Join Each Medigap Plan?
Nearly 51 percent of Wyoming residents who have Medicare also have a Medigap plan. That’s about 49,000 Wyomingites who are enrolled in Medigap. Among Wyoming Medigap enrollees, the vast majority are enrolled in Plan F (about 32,000). Below are the number of Wyoming residents enrolled in each plan as of 2017:
Plan A: 467
Plan B: 226
Plan C: 1,458
Plan D: 192
Plan F: 32,084
Plan G: 8,408
Plan K: 363
Plan L: 224
Plan M: 0
Plan N: 3,498
Which Companies Offer Medigap Plans in Wyoming?
There are 30 insurance companies that offer Medigap plans in Wyoming. As of August 2019, about 31 percent of all Medigap sales in Wyoming come from UnitedHealthcare/AARP.
Blue Cross Blue Shield of Wyoming and United of Omaha Life Insurance Company have the second and third highest Medigap sales in the state, respectively.
Other Wyoming Medigap insurance companies that have a sizeable market share include:
- American Retirement Life Insurance Company (aka Cigna)
- State Farm
- American Continental Insurance Company (aka Aetna)
- Mutual of Omaha
- United World Life
According to the Wyoming Department of Insurance, the following companies also offer Medicare Supplement plans: Americo Financial Life and Annuity Insurance Company, Assured Life Association, Bankers Fidelity, Central States Health and Life Company of Omaha, Colonial Penn, Combined Insurance Co., Gerber, Globe Life And Accident Ins. Co., Great Southern, Individual Assurance Life, Health & Accident, Medico, Oxford, Physicians Mutual, Puritan Life Insurance Company of America, Reserve National, Sentinel Security, Thrivent Financial for Lutherans, Transamerica, United American, and Western United/Manhattan Life.
Why Is a Medicare Supplement Plan a Good Choice for Wyomingites?
Access to Lower Rates if You Enroll at Age 65: Medigap plans Wyoming insurers may offer lower monthly premiums if you enroll at age 65. Generally, the longer you wait to enroll past age 65, the more your initial premium rate will be. For example, the rate if you enroll at age 75 usually increases quite a bit.
However, if you join Medicare Part B for the first time at age 66 or above, you can still get Medicare Supplement plans at the guaranteed lowest rate for a limited period of time.
You May Be Able to Get a Plan if You’re Under 65: As of 2019, United American is the only insurer that offers Wyoming Medicare Supplement plans to residents under 65 who qualify for Medicare due to a disability.
Although Wyoming insurance carriers are not required to offer you a Medigap policy if you fit this demographic, you can at least complete a health screening (called medical underwriting) to be considered for a policy.
Currently, United American only offers Medigap Plan B (not the same as Medicare Part B) to people with Medicare younger than 65.
Medicare Advantage Is Hard to Come By: Medicare Advantage plans are the alternative coverage choice for people who want something more than Original Medicare (Part A and Part B). These plans are more popular in urban areas, since they limit your choice of doctors (of which Wyoming only has so many).
Wyoming tends to encourage Medicare Supplement plans instead, and the many Wyoming residents on these plans will lower costs further.
Other Supplemental Insurance Option Available: Another option you have if you’re under 65 and are eligible for Medicare because of disability is the Wyoming Health Insurance Pool (WHIP). WHIP offers a type of supplemental insurance specifically for residents who don’t qualify for Medigap due to poor health. You can apply for WHIP coverage and your application won’t be denied.
Medigap Plans Wyoming: a Sample Scenario
Jake, a 65-year-old male in Cheyenne could enroll in Medicare Supplement Plan G, which is one of the most popular plans in Wyoming. Jake could pay as low as $113 per month for this plan, which offers basic benefits plus comprehensive coverage.
For example, Plan G’s basic benefits include coverage for Jakes’s Part A deductible of $1,364 per initial hospital admission in 2019. If Jake has one admission in January and one in November, that’s $2,728. Whereas Jake’s annual Plan G premium is only $1,356, less than the cost for one hospital admission.
Not only that, Plan G gives Jake comprehensive benefits such as coverage for skilled-nursing facility coinsurance and emergency care while traveling in a foreign country.
Where to Get a Wyoming Medicare Supplement Plan
HealthCare.com can help you find a Wyoming Medicare Supplement plan that fits your needs and budget. You can use our website or connect with a Wyoming-licensed insurance agent to find out how much Medicare Supplement plans cost in your area.
by Leonie Dennis – October 2019