Wellmark Iowa, BCBS, has announced it will no longer sell individual ACA plans, effective Jan 1 of next year. The reason is profitability and uncertainty.
This affects 21400 plans, but they will continue to provide plans to another 1.64M Iowa residents.DES MOINES, IA — Wellmark Blue Cross and Blue Shield today announced their decision not to sell or renew individual and family Affordable Care Act (ACA) plans in Iowa with a Jan. 1, 2018, effective date.
Over the past three years, Wellmark members with individual health plans in Iowa, governed by the ACA, have endured double-digit premium increases. In addition, Wellmark has lost approximately $90 million in the individual ACA market during the same timeframe.
“Finding solutions to stabilize this market is in the best interest of all Iowans, including providers of health care and insurance carriers,” said Wellmark Chairman and CEO John Forsyth. “No one really benefits from rising costs. While there are many potential solutions, the timing and relative impact of those solutions is currently unclear. This makes it difficult to establish plans for 2018.”