The Chamber has a Health Benefit Plan established under Internal Revenue Service code, as well as Department of Labor regulations. Plan contributions are held in a Trust that is directed by a Board of Trustees, chosen from the member participants of the Plan.
The Wyoming Chambers Health Benefit Association Board, the Plan Sponsor, and its Board of Directors assigns a Plan Administrator, retains legal counsel, accounting and auditing services, and other administrative services as needed for the management of the Plan, all working for the benefit of the participants.
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. Full copies of these documents are available upon request.
The Trust contracts with insurance and/or reinsurance companies in order to ensure the overall financial stability of the Trust and the benefits offered. These contracts may change from time to time and are voted upon and approved by the Trust Board or its designee.
The benefits offered by the Benefit Plan 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.
The Trust is participant-owned along with any surplus or deficits incurred. Participant employers are encouraged to review the applicable documents (Trust Document and Plan Declaration) to ascertain applicable benefits and liability of becoming a participant prior to applying for coverage.
For more information regarding the Wyoming Chamber Health Benefit Plan, please contact Brad Johnson or Sean Gifford at Covenant Insurance Group at (307) 265-0885
Designed specifically for Wyoming small to mid-sized employers