DES MOINES – State officials Ok’d massive rate increases Monday for insurance companies operating in Iowa under Obamacare.
The Iowa Insurance Division received an annual individual health insurance premium rate filing for Wellmark, Inc. plans compliant with the federal Patient Protection and Affordable Care Act (“ACA” or “Obamacare”) in May, 2016. Wellmark proposed an average rate increase of 42.6%, with variations by plan, effective January 1, 2017, for approximately 21,900 policyholders.
After review and analysis, the Division approved a rate increase of 42.6% Monday, August 29. Rates for 2017 were based on Wellmark, Inc. experience with existing individual business, and projected movement among or within the entire insured and uninsured population. The rate filings were reviewed to ensure compliance with ACA requirements and instructions from the Centers for Medicare and Medicaid Services of the United States Department of Health and Human Services (“CMS”), to ensure that the proposal is justified based upon the experience of the plans, and to ensure that the proposed rates can be expected to produce a medical loss ratio (“MLR”) of at least 80% for 2017.
The Iowa Insurance Division said, in conclusion, this it “is mindful” that several key provisions of the ACA impacted health insurance premium rates and pricing. The Commissioner, Nick Gerhart, studied the actuarial report, and consulted with various Division staff regarding the Wellmark, Inc. rate increase proposal. Whether to approve the rate increase is not a decision the Commissioner has taken lightly, the agency claims. “Many Iowans will be impacted by this decision. Balancing the needs of Iowa consumers and the solvency of an insurance carrier must be weighed carefully.”
The Commissioner finds that there is no evidence that the proposed rate filings are discriminatory or excessive under Iowa statute.
According to healthinsurance.org, five carriers have filed on-exchange rates and plans to be available in Iowa in 2017. According to the Iowa Insurance Division and Healthcare.gov’s rate review tool, the following average rate increases have been proposed:
- Aetna (formerly Coventry): 22.6 percent for POS, and 37.4 percent for HMO
- Avera (new to the exchange): 5 percent
- Gunderson (merging with Unity Health Insurance): 19.8 percent
- Medica: 19 percent
- Wellmark (new to the exchange): 35 to 45 percent, depending on plan; average is 37.8 percent
Monday, the Iowa Insurance Division approved rate increases for other participating insurance carriers: Aetna (22.6%), Gunderson (19.8%), Medica (19%) and Avera (5%).
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ILLEGALS are ONE of the driving factors of premium increases. 11 million illegals along with so many very unhealthy folks that consume mega healthcare services , and not enough healthy folks paying into the system. Democrats propose socialized medicine as the answer. Why do so many foreigners from ‘socialized medicine’ countries come here for care, especially folks from Canada? Socialized medicine will decrease services BIG TIME and limit what you can have. Folks won’t be so happy with socialized medicine when Mom or Dad are refused that pacemaker, or bypass, or any other ‘unnecessary procedures’ due to age ……perhaps a 75 y/o is that age for socialized medicine cutoff.
Pharmaceuticals need to be regulated by the government, just like every other aspect of healthcare. However, this will probably not happen, since most of D.C. insiders are paid off by big Rx . Dentistry is NOT controlled by government either. It’s a bit pricey to have one tooth repair cost $5000.oo . Unhealthy mouths can cause lots of health problems as well.
SOCIALIZED healthcare is not FREE….as some think. Taxpayers are footing the bill for all the free b’s….nothing is free. $9 gal/gas could surely help cover the cost of expensive healthcare. Our corrupt leadership in D.C. will only make healthcare system worse. Brace yourselves !
No one should be surprised. This is exactly how obamacare was designed to work. It is a ruse to make everyone blame the insurance companies and demand single payer. Ask the vets how that va care is working for them. Oh and Medicare isn’t much better. The new Medicaid is saving money by cutting services. Ask any health care worker.
People may feel anger toward the insurance companies, but we all know who is accountable for the ACA debacle. Politicians. Nancy Pelosi “we have to pass it before we can know what’s in it”. The idea behind the creation of the ACA is a noble one, but in it’s current form ACA is a prime example of how to do it the wrong way.
Hey Bodie, remember when big ears said the cost would drop. You have to be a crat operative to come up with your crap.
Where’s your alter ego to post that your comment is great?
You didn’t respond, you just deflected. Have you read the news lately about Mylan and their increase in the cost of EpiPen? And the other drugs where they raised the price exorbitantly? You think they were alone? Every big pharmaceutical company has been raising drug prices to pay their execs big salaries?
and also pay the RECORD taxes that the current administration heaped on them. It gets passed along folks
Why blame it on the ACA? Why not blame it on Big Pharma where it belongs? Ever hear of EpiPen?
I totally agree with what your saying about the big drug companies. For sure something should be done about them, but that would be cutting into somebodies kickback. Not all medical care is drugs. When I go to my doctor with a broken arm, and he sees me for 10 minutes, and says I have a broken arm, but I need an x-ray, then sends me to radiology. He gets $120.00 plus for his 10 minutes and radiology gets $350.00 plus for an x-ray. It’s like the energizer bunny, it keeps going and going, up.
EpiPen is a direct result of Obamacare. The insurance company’s are trying to recoup their losses due to Obamacare.
Epipen is not a direct result of Obamacare. Mylan is and has been profitable for years. Read the entire article this excerpt was from:
‘Mylan’s long-term debt more than doubled this year to about $12.77 billion, and interest, along with other non-operating expenses, are dragging down the company’s bottom line. The 110 million shares used to acquire Abbott’s branded generics business, and more-recently created shares used to buy Sweden’s Meda, have dragged trailing 12-month earnings per share to levels Mylan investors saw years ago.’
notice what is dragging down the bottom line – non-operating expenses and interest on long-term debt. Maybe the salaries of its CEO and its Executive Chairman (which is more than the $19+ million its CEO’s) had something to do with it.
It will still be free to me, thank you for all of you that go to work to pay for mine
Well what do you know. Another Obama/Clinton lie.