2016 is Starting Not-so-hotsy.....

Discussion in 'Health Insurance Exchange Forum' started by timsip, May 11, 2015.

  1. timsip
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    timsip Well-Known Member

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    Important Information Regarding Wellmark’s 2016 Exchange Decision and ACA Rate Increases

    Today, Wellmark announced that they will NOT offer products for sale on the Exchange/Marketplace in 2016 in Iowa.

    Today, Wellmark Blue Cross and Blue Shield of Iowa announced rate increases for January 1, 2016. Average rate increases are listed below:




    Iowa


    Individual/ Group
    Grandfathered Plans Announced in June Announced in June Announced in June Announced in June

    ACA-PPO 26.5% / 10.7%

    ACA-HMO 28.7% / 5.9%



    These increases will require a public rate hearing which is currently scheduled for July, 2015. GF/NGF rates for 2016 will be announced in June and a rate hearing will be scheduled at that time, if needed.

    2015 Timeline
    •May 11 (today): 2016 Product and Rate Filing.
     
  2. CABenefits
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    CABenefits Well-Known Member

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    Ouch! The scales are turning
     
  3. timsip
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    timsip Well-Known Member

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  4. GreenSky
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    GreenSky Well-Known Member

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    Well this is a surprise. I thought Obamacare was going to cut costs.

    Next you'll tell me that buying a house with no money down and virtually no income could be a bad deal for the banks.

    Rick
     

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