COMMISSIONER'S CORNER

Q1 2025

As we reflect on the past year, I am proud to highlight the significant achievements of the State Insurance Department in 2024. This year has been marked by wildfires in Wyoming and across the country; legislative changes regarding Prior Authorization and continued excellence in consumer assistance. The office has worked tirelessly to ensure that the Wyoming citizens have fair, transparent and accessible insurance information. This summary will provide an overview of our key accomplishments and the impact they made for our Wyoming communities.

2024 Highlights:

During the 2024 legislative session, the DOI monitored 4 bills regarding insurance. They were HB0014 Prior Authorization Regulations; HB0015-Health Insurance-reimbursement of overpayments; SF0005-Organ transplant recipient protections; SF0100-Payment of Insurance Claims. You can view the bills and the changes that were made by visiting the Legislative Service Office website and select 2024 bills.

In preparation for the 2025 legislative session, the agency proposed two bills to the Joint Corporations, Elections & Political Subdivisions Committee. The first bill was a simple “clean up” bill with minor corrections and updates to Title 26. The second bill, was an NAIC Accreditation bill with updates to Chapter 44, the Holding Company System per the 2021 model law updates. Both bills passed the Joint Corporations Committee this summer and will be committee bills this upcoming session. The 2025 legislative session begins January 14, 2025 and we expect to follow several bills during the general session.

The DOI also did extensive outreach during 2024. Public service announcements were published each month in statewide papers and on the DOI LinkedIn page. Some of the topics in 2024 were Marketplace and Medicare open enrollment, Health Insurance 101, Mental Health Awareness Month and Wildfires. The agency also did presentations and articles for the Wyoming Board of Pharmacy, and interviews with the New York Times and Cowboy State Daily.

In 2024, the agency collected over $25,632,397 in premium tax. The fiscal section also reviewed approximately twenty-one (21) new company expansion applications for insurers to become licensed to write business in Wyoming.

The agency was also busy with licensing applications and form reviews. Our three licensing personnel issued 42,852 licenses, renewed 66,252 licenses and manually processed 5,186 applications. The Rate and Form filing section reviewed 1,726 Life & Health filings and 2,108 Property & Casualty filings. Staffing remained consistent with five personnel.

The legal section was busy with public records request and docket filings. In 2024, the legal section finalized one regulation, Chapter 72-Prior Authorization. They processed seventy-six (76) public records requests and opened seventy-five (75) docket files. They also collected $40,631.00 in fines.

The agency also has a very responsive complaint section. This section handles a variety of complaints to include improper denial of claims; delays in claim handling; cancelation or termination of an insurance policy or misrepresentation of policy. In 2024, the section handled 1,880 consumer complaints or inquiries in additional to many phone calls and emails.

The Department also added one new position. Thanks to an appropriation from the legislature the Department was able to hire a Health Program Manager to handle complaints and inquiries regarding Pharmacy Benefit Managers. This individual will develop a PBM regulation program, respond to PBM complaints, and follow legislation regarding PBMs.

As we head into 2025, our goals remain clear: to enforce insurance laws and regulations, assist consumers with complaints and encourage a healthy insurance marketplace.

Jeff Rude, Wyoming Insurance Commissioner