CHEYENNE — Blue Cross Blue Shield of Wyoming announced Thursday that it will offer a total of $15 million in premium relief to employers and individuals due to the economic hardships brought on by COVID-19.
The health insurance provider, which is the only one in Wyoming, will first offer premium credits to large and small group employers equal to 50% of each group’s premiums billed for the month of November.
For those who receive coverage through the individual market, rather than through their employer, rebates totaling approximately $8 million will be available to them in early 2021. Wendy Curran, vice president for care delivery and provider affairs at Blue Cross Blue Shield of Wyoming, said the initiative was the first of its kind for the company that she could recall.
“Our goal is to always try to help our members and businesses minimize their health care costs,” Curran said. “The COVID-19 pandemic has been a unique circumstance for all of us, and as we started into the early days of the pandemic, we didn’t know what the impacts would be on us as a health insurer.”
Eventually, the company realized the premium credits would be a viable option for members. The decision came after Blue Cross Blue Shield of Wyoming had already waived out-of-pocket costs for COVID-19.