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Wyoming Chambers Health Benefit Plan

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Sponsored by:

Your Local Chamber and

Plan Description

The Wyoming Chambers Health Benefit Plan is a non-grandfathered benefit Plan under the Patient Protection and Affordable Care Act of 2010. This means the Plan includes the mandated coverage(s) as required in the law for the benefit of Plan participants. For additional information regarding the benefits provided due to this legislation, as well as all other available coverage levels limitations, please refer to the Plan Declaration and the Summary Plan Document.

Program Objectives:
  • More stability in insurance premiums, now and in the future
  • Broader accessibility to health insurance and coverage options within the community
  • Creation of a community-wide wellness mind-set and culture
  • Education about access to a broader range of choices to promote better healthcare decision making
Participating Chambers:

One benefit plan fit all employees' healthcare needs!

In a Defined Contribution Benefit Plan…

EMPLOYERS CHOOSE the amount of money to allocate towards benefits. It may be a different amount for coverage level(s) (Single, Family, etc.) and the amount does not need to change annually.

EMPLOYEES CHOOSE the benefit program that best fits their needs and their ability to afford the premiums for that benefit plan choice. The amount of premium for coverage, which is more than the employer contribution, is withheld from employee compensation.

Defined Contribution Healthcare

For years, employers have provided benefits for employees and planned those benefits to meet the needs of those employees and their families. The challenge for employers is that healthcare has become much more specialized and variable while benefit programs have adhered to a more “one-size-fits-all” model. Due to the evolving benefit needs of employees and their families, benefit choices must be available for employees to choose from to fit their individual needs.

Type of Plan:
  • A Welfare Benefit Plan established under Internal Revenue Service Code and applicable Department of Labor regulations.
  • A Plan where contributions are held in a Trust that is directed by a Board of Trustees chosen from the member participants of the Plan.
  • A Plan governed by the Wyoming Chambers Health Benefits Association Board, the Plan Sponsor, and its Board of Directors who assigns a Plan Administrator, retains Legal Counsel, Accounting & Auditing Services and other Administrative Services as needed for the management of the Plan; all working for the benefit of the participants.
  • A Plan where claims are paid by the contracted Claims Administrator (TPA) as directed by applicable State and Federal laws, the Trust Document, the Plan Declaration and the Summary Plan Description(s) of the benefit programs offered and administered by the Association.
  • A Trust which contracts with insurance and/or reinsurance companies in order to ensure the overall financial stability of the Trust and of the benefits offered. These contracts may change from time to time and are voted upon and approved by the Association Board and the Trust Board or its designee.
  • A Plan where the benefits offered are reviewed annually to determine their viability for the members and participants. The Wyoming Chambers Health Benefit Association, with available contracted counsel and advice, may alter these benefits, remove a plan of benefits completely and/or add new plans for consideration, without the consent of participating employers or participating employees.
  • A Trust that is participant-owned along with any surplus or deficits incurred.
Enrollment Requirements: