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?