The only health insurance provider offering Iowans subsidized coverage through the Affordable Care Act wants to raise rates to its customers by at least 18-percent starting in November during open enrollment. Iowa Insurance Commissioner, Nick Gerhart, says while Coventry is the only provider right now, two other insurance providers will be on the exchange next year.
“There’s more choices for Iowans so if someone who is impacted by this wants to shop around they’ll have some selection next year. It’s too early to make a prediction on next year’s rates. They just filed them for this year,” Gerhart says. He isn’t sure what adding two providers will do to the rates.
“Unfortunately people are not going to be able to see rates until November so people will have to wait until open enrollment which begins in November. November 1st to be exact,” Gerhart says.”But at that time they’ll be able to go to www.healthcare.gov or talk to an agent or navigator to look for insurance that best suits their needs.”
Gerhart says he looked into the numbers yet but says Coventry likely took on more risk than they projected. He says some of that could be blamed on the failure of federally-backed CoOpportunity Health earlier this year.