WYOMING — Blue Cross Blue Shield of Wyoming (BCBSWY) announced today that it is offering financial relief to the company’s fully insured group employers and individuals during the COVID-19 pandemic.
BCBSWY is providing premium credits to fully insured employers in both large and small groups. The credits will be equal to 50 percent of each group’s billed premium for November 2020. The premium credits to Wyoming employer total over $7 million and will be reflected on their next 2020 premium invoice.
“We recognize the pressures that many of our business partners are facing due to the ongoing impacts of the COVID-19 pandemic,” said Diane Gore, President, and CEO of BCBSWY. “Wyoming businesses have faced disruptions and economic stress for much of this year.”
For BCBSWY members who do not receive coverage through their employer and instead purchase it in the individual market, Gore said BCBSWY will provide a return of premium directly to them in the form of a rebate, totaling approximately $8 million. This will be offered in early 2021.
“Our individually insured members have made significant sacrifices this year as well, and we hope this can make a difference,” Gore said. “As a Wyoming employer ourselves with employees across the state, we believe giving back during this pandemic is the right thing to do. We work hard to hold down the cost of health care services on behalf of our members,” Gore said. “Those efforts, together with the impacts of the current pandemic, make it possible to offer these premium credits and rebates to both our employer groups and our individual members.”
The premium credits and rebates are the latest among several steps BCBSWY has taken to support its Wyoming members, employers, providers, and local communities throughout the COVID-19 crisis.
Gore concluded by saying, “The challenges presented by this pandemic are unprecedented in the history of our company. However, I know that if we as Wyoming citizens and employers work together, we will come out stronger in the end.”
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