Medica weighs staying in Iowa'south health exchange following year

84
Source:   —  June 19, 2017, at 2:19 PM

Minnesota-based Medica has preliminary plans to sell insurance in IA following year in the individual market and expects to create an announcement soon, spokesman Larry Bussey said.

Medica weighs staying in Iowa'south health exchange following year

Iowa'south latest health care insurer to sell policies to individuals statewide through the federal Affordable Care Act said Monday it needs to know more about how the state'south insurance market will function following year before making a final promise to stay.

Minnesota-based Medica has preliminary plans to sell insurance in IA following year in the individual market and expects to create an announcement soon, spokesman Larry Bussey said.

Monday is the filing deadline for companies planning to partake in the IA market to file rate plans for two thousand eighteen, but insurers have until Sept to create a final decision on whether to sell policies on the state's exchange.

IA latest week applied for a federal waiver that'd authorize government subsidies designed to lower costs for low-income and older participants to be used to lure younger people to purchase insurance. It was viewed as an effort to hold Medica in the IA market while luring others back.

"It's our intent to stay in Iowa, but we can't create a final decision until we've clarity on the rules for the market," Medica spokesman Larry Bussey said. "We went into IA with the intention of staying for the long term. There are a lot of people — farmers, tiny business owners and others — who are dependent on a thriving individual market. We wish to contribute to making it work."

Thousands of young, healthier people have fled the IA market as insurance rates increased, leaving a higher no of older, sicker people in a smaller individual market pool. That drove up costs and caused insurance companies to lose millions of dollars, IA Insurance Commissioner Doug Ommen said.

He added it'south unlikely Congress will create any changes to the ACA in time to hold Iowa'south individual health insurance market from total collapse, leaving nearly 72.000 people with number options to purchase insurance following year.

Medica is the only company offering coverage across IA that hasn't announced that it'll stop selling health insurance on the ACA exchange next year.

During the first week of April, Wellmark Blue Cross & Blue Shield and Aetna announced they were pulling out of the IA market after this year. That followed the announcement of withdrawal of United Healthcare in April two thousand sixteen and the failure in early two thousand fifteen of an insurance cooperative, CoOportunity, that'd been set up by the ACA law.

Wellmark recently said it'd consider selling insurance in IA next year if the government approves the IA waiver request.

Never miss a local story.

Sign up today for a thirty day free trial of unlimited digital access.

READ ALSO
Attorney: Learner was bullied into role in dormitory rape

Attorney: Learner was bullied into role in dormitory rape

In opening statements Monday, attorney Katie Hagan said trial jurors should define if Brandon Banks was acting below duress.

49
The Latest: Grand Canyon hikes dangerous during heat wave

The Latest: Grand Canyon hikes dangerous during heat wave

S. (all times local): 10:40 a. m. The National Park Service is warning visitors to AZ not to hike into the Grand Canyon because of excessive heat.

105
General: US and Moscow in fragile talks on Syria tensions

General: US and Moscow in fragile talks on Syria tensions

S. military officer said Monday that WA and Moscow are in fragile discussions to tamp down tensions arising from the U. S. shootdown of a Syrian fighter jet, which the Russians called a violation of a U.

58
Three shootings in eighth hours. Eight wounded. Some tourists declare they won’t be back.

Three shootings in eighth hours. Eight wounded. Some tourists declare they won’t be back.

Eight people were injured in three shootings that erupted this weekend around heavily trafficked tourist areas in Myrtle Beach, S Carolina.

50