Iowa’s Insurer Exodus: Wellmark BCBS and Aetna Announce Departures from Obamacare Marketplace
WASHINGTON, DC – It’s been another bad week for the so-called “Affordable Care Act.”
On Tuesday, Wellmark Blue Cross and Blue Shield announced they will not sell or renew plans in Iowa next year. Wellmark cited double-digit premium increases and a net loss of approximately $90 million for their decision.
“No one really benefits from rising costs,” said Wellmark’s Chairman and CEO, John Forsyth.
Today, Aenta announced they also will not participate in Iowa’s individual market next year, citing significant financial risk.
The insurer exodus continues it’s drip-drip-drip effect on patients, leaving them guessing on the future of the marketplace. This year, Iowans had four insurers offering plans on the individual market. Next year they will have just one state-wide insurer. Patients deserve better – a health care system that puts them first and delivers on being more affordable and accessible.