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What’s your reaction to Wellmark’s request for insurance rate increases?
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Wellmark Blue Cross Blue Shield has requested a 13.3 percent overall increase in individual health insurance premiums.
Wellmark’s Nov. 7 request would affect roughly 150,000 of Wellmark’s 1.8 million Iowa members under age 65 who have individual policies rather than policies issued through an employer.
The amount varies by insurance product, from a 3 percent proposed increase in Wellmark’s HMO-Blue Advantage to a 12.2 percent increase in the company’s Direct Pay and Blue Transitions plan, and a 13.3 percent increase in Farm Bureau, Basic and Standard plans.
The Iowa Insurance Division could approve the request as is, or modify the level of increase if it finds the request is not warranted.
Not everyone is pleased by the request. But an increase in the size of large claims, an increase in the use of out-of-state health service providers, and an increase in musculoskeletal claims were the main drivers of the increase, according to Wellmark.
The state’s largest medical insurer cited a continuing rise in the number of members with claims over $100,000, associated with serious conditions such as heart failure, septicemia and meningitis.
Read the story linked above for more information. What’s your reaction to Wellmark’s request?
This is where Obamacare falls short. There should be no health insurance companies to make obscene profits. This country needs national health care for all legal citizens, so they can get the same health care and not have to worry about the cost.
Good luck. We saw what happened to the “public option” proposal when the Health Insurance Industry unleashed its propaganda (“don’t pull the plug on grandma”) campaign and mobilized its lobby army.
“This country needs national health care for all legal citizens, so they can get the same health care and not have to worry about the cost.”
So who is to worry about the cost? The tooth fairy?
I’m retired and on Medicare now, but when I was working and paying into Medicare there were fewer people on Medicare, who didn’t live as long and who didn’t receive many of the expensive new treatments available today. So to say that I paid my share and deserve free medical care now would be selfish, if not downright greedy.
the way it is now, the insurance company pays the hospital and the drs only a portion of what medical care cost, the rich non insured because of preexisting conditiions pay a hospital and drs more then they should to make up for the what the insurance company cheat the medical profession out of and the poor who dont have medicaid or insurance, just walk on the bills. So if it was averaged out by the government to pay for the bill for everyone wouldnt be so much and there is lots of money going out of the country to off shore bank accounts that should be raided to cover it all.
Not worry about the costs? You LIBs are just amazing, GIMME, GIMME, GIMME more free stuff. Hate to break it to you, but somebody has to pay for it. Plus the “obscene profits” for healthcare companies is a lie Apple makes more profit than health insurers. Why don’t you picket them?
In answer to the question asked, it’ll be a bigger increase next year due to Obamacare.
our healthcare is by far the most expensive in the world, overall i remember reading that we were ranked 17 in the world. it is all about profits the three biggest political lobby givers are the health industry, drug companies and the oil companies, they also the three biggest profit industries. obama got the ball rolling now we need more change yes we do need national health care.
More evidence that the inmates are in charge of the asylum. And Pam Jochum who says “I still think it’s a good process” should have her crayons taken away and her medication changed.
I thought Obama-care was supposed to curb this kind of stuff? Its not just Wellmark! My insurance gets worse every 6 months to 12 months. The coverage is worse, the monthly premium goes up,the deductible gets higher,it covers less and less $ on prescriptions, the co-pay goes up! Whens it end?
The medical industry provides health care which everyone needs. What do insurance companies contribute to that irrevocable equation? Other than create a massive and needless middle man their only other function is to feed at the public trough. We need to eliminate health care by corporation.
Wellmark ceo Forsyth made 3.1 million last year with over half in bonuses, apparently a 700k raise over his wages in 2010 which was a little over 2.4 million. Anybody want to bet that if he gets this rate increase thru his 2013 pay will top 5 million if it didn’t already in 2012?
the 3.1 milion was 2011