RAISING RATES: Wellmark Asks For Another Increase
Wellmark Blue Cross Blue Shield is asking state regulators to approve another rate increase.
The health insurance companies’ leaders want to raise rates by 12- 13 percent for Iowans.
If approved, thousands of customers would see the increase early next year.
This comes after Wellmark raised Iowa rates by 18 percent in 2010, and an additional 9 percent last year.
The Iowa insurance division must approve the increases, and then a public hearing will take place on January 5th.
A spokesperson for Wellmark says the increase is needed to offset the rising cost of health care, however, they added it is not a result of the affordable care act.