New rate increases on 63,500 individual health insurance policies may go up starting January 1, 2019. Wellmark has proposed an average increase of 8%, for consumers who bought plans before the Affordable Care Act took effect in 2014 according to the insurance division. The Iowa Insurance Division has scheduled a public hearing regarding health insurance rate increases on August 18, 2018 at 10 a.m. The hearing will be held at Two Ruan Center, 601 Locust Street, Lobby Auditorium in Des Moines.
Iowa Insurance Division is required to hold a rate hearing for carriers filing rate increases above 5.6% in the individual market. Wellmark requested a new rate increase of 8.1% for grandfathered plans, or health insurance plans predating ACA. The company left the market in 2018 due to high costs and political instability, but announced last February they would sell ACA-compliant plans on and off the 2019 exchange. Their proposed rate filing is not subject to a rate hearing due to the new status within the 2019 ACA Iowa individual market.
Consumers unable to attend the hearing may participate online at https://iidiowa.adobeconnect.com/ratehearing or provide comments in the following manner:
- Online at https://iid.iowa.gov/2019rateincreasepubliccomment
- By postal mail to: Consumer Advocacy Office, Iowa Insurance Division, Two Ruan Center, 601 Locust Street, 4th Floor, Des Moines, IA 50309
- By phone: 515-725-4011 or toll-free at 877-955-1212
- By fax: 515-281-3059