Iowa Approves Sharp Rate Increases for Four Health Insurance Companies
Iowa's Insurance Commissioner says more than 75,000 Iowans will be paying more starting January 1, 2017.
The Washington Times reports the increases in rates vary from 19 to 43 percent. Yeah, 19 is the low end. Here's the bad news and specifics for each of the four companies:
The largest increase is expected to affect 22,000 Wellmark Blue Cross and Blue Shield customers in Iowa. It's an increase of 42.6 percent.
Another 7,700 people with Wellmark Health Plan of Iowa will see their rate increase 37.8 percent if they joined after the Affordable Care Act. If they joined before, their increase will be 42.6 percent. Approximately 2,300 of the policyholders prior to the Affordable Care Act.
Rates for Aetna Health of Iowa policyholders will increase 23 percent. There are approximately 42,000 affected.
Finally, rate increases for Medica Insurance Company (19 percent) and Gunderson Health Plan (19.8 percent) were also approved.
[via Washington Times]