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Iowa health insurer to seek smaller rate hikes

Months after customers blasted the company for years of skyrocketing rates, Iowa's dominant health insurer said Tuesday it will limit premium increases in 2014 to less than six percent for individual and small business policyholders.

By Ryan J. Foley | Updated on June 18, 2013

IOWA CITY, Iowa (AP) — Months after customers blasted the company for years of skyrocketing rates, Iowa’s dominant health insurer said Tuesday it will limit premium increases in 2014 to less than six percent for individual and small business policyholders.

Wellmark Blue Cross and Blue Shield said in a statement it would not raise premiums to cover any increases in general medical or administrative costs in 2014. Instead, the Des Moines-based mutual company said it would only raise rates to offset the new fees required of insurance carriers under the Affordable Care Act.

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