Campbell County Chamber of Commerce
Wyoming Chambers Health Benefit Plan
Sponsored by Your Local Chamber and
The Wyoming Chamber Welfare Benefits Association
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:
- Campbell County Chamber of Commerce
- Sheridan County Chamber of Commerce
- Douglas Chamber of Commerce
- Powell Chamber of Commerce
- Thermopolis Chamber of Commerce
- Lander Area Chamber of Commerce
- Casper Area Chamber of Commerce
- Newcastle Chamber of Commerce
- Star Valley Area Chamber of Commerce
- Goshen County Economic Development Corporation
- Laramie Chamber Business Alliance
- Sublette County Chamber of Commerce
- Worland / Tensleep Chamber of Commerce
- Cody Country Chamber of Commerce
- Rock Springs Chamber of Commerce
- Riverton Chamber of Commerce
One benefit plan DOES NOT 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.
- 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.
- The employer must be a current member in good standing for at least 60 days, of at least one participating Chamber of Commerce, prior to Effective Date of coverage.
- Each employer must have a minimum of 75% of eligible employees participating for groups of 5 or more, and 100% participation for groups of 4 or less (after Qualified waivers). Minimum group size is 2 employees. Husband and Wife groups of two are eligible as long as both are full-time employees.
- Completed Employee Enrollment/Waiver Applications are required from each employee in order to qualify. Following underwriting, the entire employer group will either be accepted or denied coverage.
- The PLAN’s renewal date is July 1st of each calendar year. Regardless of when enrollment is completed, any changes to the PLAN rates and/or benefits will take place on July 1st. Open enrollment (the ability to add employees who waived coverage or dependents which had previously waived) is the month of June of each year for each participating employer (subject to HIPAA Qualifying Event rules).
- Premium Contributions are made by the employer directly into the Trust Account and are used as described in the Trust Document, Summary Plan Description and Plan Declaration. The Trust is governed by a Board of Trustees, elected as described in the Trust Document.
- Employer must contribute a minimum of 50% of the employee’s premium, or equivalent if multiple plans are offered. Paying too little of employee’s premium may have tax implications under the ACA (for Applicable Large Employers).
Ready To Join?
Click the button below and fill out our online application to get started today!
