Iowa Insurance Commissioner Nick Gerhart has approved health care premium rate increases for four companies ranging from 19 percent up to 43 percent. Gerhart’s office reviews the rate increase requests to be sure they are “non-discriminatory, fair and adequate” under the Affordable Care Act (A-C-A). He says they use several actuarial tables for the review.
The information shows approval for Wellmark Blue Cross and Blue Shield of 42-point-six percent for 22-thousand customers. About 77-hundred policyholders of Wellmark Health Plan of Iowa will see an increase of 37-point-eight percent. Another group of 23-hundred Wellmark planholders who enrolled prior to the Affordable Care Act becoming law will see a 42-point-six percent increase. Gerhart says the variation in the amount of premium increases is based on what those actuarial numbers show for each company.
Around 75-thousand Iowans will pay more for their health coverage with the increases that begin January 1st.
