Premiums could jump 38 to 43 percent for some Wellmark policyholders
Wellmark Blue Cross & Blue Shield is notifying about 30,000 policyholders this week that it plans to raise their premiums by 38 to 43 percent next year, The Des Moines Register reported. The increases, which are subject to Iowa Insurance Division approval, will affect people who bought relatively new plans that comply with rules of the Affordable Care Act. Wellmark said it lost $99 million on those customers in the past two years. Customers who hold older individual insurance plans are expected to face smaller increases, which will be announced in June. The increases being proposed this week also don’t affect Wellmark customers who obtain coverage via their employers. Their premiums are expected to rise less, because they are in larger, more stable pools of customers.