Wellmark Asks For Dramatic Health Insurance Rate Increase
Date posted - May 16, 2016
The Des Moines based insurance giant has asked the Iowa Insurance Commissioner to allow them to raise rates on those policies from 38% to 43% for the coming year.
The increases would affect individual customers who bought new plans that comply with Obamacare regulations. Wellmark says those on group coverage through their employer will see a smaller premium increase.
Wellmark officials blame the increase on the poor health of their clients, and rising claims costs paid by Wellmark as the cause of the rate increase request.