Wellmark has just announced that they will leave the ACA under-65 individual health insurance market in Iowa in 2018.
Midwest Group Benefits Inc.'s Brian Huinker of Decorah stresses Wellmark's decision only impacts ACA individual under-65 members, approximately 21,000 Iowans. These Wellmark members will receive termination notices in mid-June, but their current coverage can remain in effect until the end of this year.
"This is not surprising given the fact that Wellmark is losing money hand over fist in the ACA market," said Huinker. He points out that NE Iowa residents still have two viable individual options (Medica and Gundersen Health Plan). None of these changes will affect the group market.
He adds that there are new rules in the group market and rates are often 30 percent less than individual rates. He also points out that Wellmark still provides their national network with Mayo.