Coventry seeks 23 percent premium increase
BUSINESS RECORD STAFF May 27, 2016 | 3:57 pm
<1 min read time
0 wordsAll Latest News, Health and Wellness, InsuranceCoventry Health Care of Iowa is proposing premium increases averaging 23 percent next year for Iowans who buy their own coverage rather than obtaining it through their employers, The Des Moines Register reported. The requested increase, which requires approval by the Iowa insurance commissioner, affects approximately 37,000 Iowa residents. A hearing on the proposed increase is scheduled for July 23. Rising medical costs and the end of a federal program designed to stabilize premiums in the individual insurance plan market have pushed companies selling plans on the Iowa exchange to ask the Iowa Insurance Division for double-digit increases for the upcoming 2017 enrollment season, the Cedar Rapids Gazette reported.