Another insurance company is going to stop selling individual health insurance policies in the state.
A statement from the Iowa Insurance Division says Aetna has notified the division the company will be leaving Iowa’s individual market. Aetna’s departure follows the same announcement from Wellmark Blue Cross and Blue Shield earlier this week.
Iowa Insurance Commissioner Doug Ommen said this is a problem created by the Affordable Care Act and needs to be fixed by Congress.
“I’m very concerned about the stability of the market. Some of the instability is a result of the fact that the federal government has been unable to be responsible to the troubles that we’re facing. So yes, I am worried,” Ommen said.
With the exit of Aetna and Wellmark, Iowa now has just two insurers providing individual policies.
“I simply would encourage individuals to be patient as efforts are made. But Congress does need to act,” Ommen said.
Medica offers coverage statewide. Gundersen only sells individual plans in five counties.
)Reporting by Iowa Public Radio’s Sarah Boden)