Wyoming insurance regulator describes small, self‑funded agency, PBM oversight and local market differences

Cheyenne — The Wyoming Department of Insurance told lawmakers on June 24 that it remains a small regulatory agency that is self‑funded through industry assessments while overseeing insurers, licensing, market conduct and a newly established pharmacy benefit manager (PBM) unit. “We are the Department of Insurance. We regulate everything about insurance, all aspects,” Deputy Commissioner Tana Howard said as she introduced the department’s functions to the Labor, Health & Social Services Committee. Howard told the committee that the department has 27 employees and manages licensing (about 215,000 active licenses, mostly nonresident), financial examinations of domestic carriers, policy form and rate reviews in narrowly required lines, a consumer complaints division and an inspection/market conduct function. The department conducts accreditation work with the National Association of Insurance Commissioners (NAIC) and uses NAIC model law guidance. Howard and senior health policy analyst…