Governor Reynolds Signs New, Limited Health Insurance Law

IOWA  --  Iowans will now have a new place to find health coverage, but it will be far more limited than traditional health insurance.

On Monday morning, Governor Reynolds signed a bill into law that allows Wellmark Blue Cross and Blue Shield to partner with the Iowa Farm Bureau. The coverage is for Iowans who don't have insurance through an employer or a government program. It's unique in that it is exempt from state and federal regulations and the Affordable Care Act, and it won't cover pre-existing conditions.

The governor considers it a temporary option until Congress has a more permanent fix for the health care system.

"Before Obamacare, Iowa had a healthy individual insurance market," she said. "We had nine carriers in the individual insurance market, we had reasonable premiums, and we had good participation. Now, the market is in collapse."

Governor Reynolds said premiums went up 57% last year for individual insurance plans.