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Wyoming officials pitch optional 'Bear Care' catastrophic coverage; lawmakers flag competition and authorizing authority
Summary
Department leaders described a small proposed catastrophic insurance product (referred to as "Bear Care") as an optional, limited program to protect against major financial events; deputies said the product would not be launched without legislative authorization and emphasized higher medical-loss ratio targets compared with some private options, while lawmakers raised concerns about unfair state competition.
Deputy staff and department leadership presented a conceptual optional catastrophic plan — discussed in the materials as "Bear Care" — designed to provide protection for large, low-frequency medical events rather than comprehensive marketplace insurance.
Franz Fuchs, deputy to Director Johansen, said enrollment would be optional and that the department planned a product with a high proportion of premiums paying medical claims. “With this particular program, we would anticipate a medical loss ratio of 95% or…
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