Wellmark Blue Cross-Blue Shield of Iowa will cooperate with an independent review of is recently-approved request for health insurance premium rate increases, the company told Radio Iowa Monday.
Gov. Chet Culver Monday ordered state Insurance Commissioner Susan Voss to halt the 18 percent premium increase scheduled to go into effect April 1 until a review could be conducted. A spokesman for Wellmark said the company does not object.
From Radio Iowa:
“We intend to cooperate fully with the insurance commissioner in an independent, actuarial review of the data that supports our recent, individual rate increases in the individual, under 65 market,” [spokesman Rob Schweers] says. “And by individual, we’re talking about people who buy their own policy as opposed to people who have a group policy through their employer.”
The review is expected to take less than 30 days.