Those who are temporarily without health benefits may want to turn to COBRA. COBRA stands for Consolidated Omnibus Budget Reconciliation Act. It temporarily keeps your health benefits going in hopes that a more permanent solution can be reached.
However, COBRA isn't a one-size-fits-all program. When it comes to COBRA insurance in Wyoming, there are many different options. We'll talk about a few of them in the paragraphs below.
One of the most common alternatives to COBRA health insurance is Medicaid. Medicaid is a government-funded program that can serve as health insurance for those who fall under a certain income level.
Others who are eligible include some pregnant women and anybody who receives supplemental security income. State governments can decide to make additional groups eligible within their state.
In many cases, Medicaid has no copay and covers most necessary and preventative procedures. Some states also choose to cover dentistry, occupational therapy, glasses, and a few others.
In Wyoming, Medicaid offers occupational and physical therapy, as well as some dental care, but not glasses.
Another thing to consider when looking for COBRA health insurance alternatives is a short-term medical plan. Many companies offer 6-month insurance plans specifically designed for people going through hard times.
Unfortunately, these plans don't cover as much as Medicaid, nor do they cover pre-existing conditions in most cases. This plan is best for those who are currently between things but have a little bit of money saved up.
The Affordable Care Act often called the ACA or Obamacare, offers many options for coverage in their marketplace. These are great coverage options for those who fall at or above the poverty line.
11% of people in Wyoming are considered impoverished. This is significant, given that almost a quarter of Wyoming makes less than 2 times the poverty rate and over 16% of jobs in Wyoming pay a low wage.
ACA in the United States covers anybody who makes up to four times as much as someone who's on the poverty line.
Since you have to at least meet the poverty line to qualify, ACA insurance is best for people who are getting by well enough but don't have a lot of extra money for insurance.
Altogether, this makes an ACA plan a great alternative to COBRA insurance, Wyoming, or anywhere else in the country.
If you're wondering about COBRA health insurance, Wyoming has a few options available. We've talked about some of them in this article, but there are others, especially since programs like COBRA, the ACA, and Medicaid all offer a variety of plans which all fall under the same category.