After various data reviews, the Iowa Insurance Commissioner Susan Voss granted the Wellmark rate increase request.
The rate increase, impacting persons who received the notice of increase late last year, and not impacting employer group plans or Medicare supplement policies issued by Wellmark, takes effect April 1, 2013.
“It’s never easy to decide to raise rates,” Voss said. “It will impact all the people with this type of policy from this company, and some more painfully than others. The facts support the requested increase, in spite of the emotional resistance to do so. ”
Read a full version of the commissioner’s letter here.