DES MOINES, IA – Today Wellmark® Blue Cross® and Blue Shield® issued the following statement in reaction to the U.S. Supreme Court decision to uphold the Patient Protection and Affordable Care Act:
Wellmark will continue to implement the various provisions required by the law while working with policymakers to address provisions that will increase costs such as compressed rate bands, which will result in driving up premiums for young people and the health insurance tax that will add hundreds of dollars to families’ premiums each year. “We plan to remain engaged in state-based health care exchange discussions, and will continue to provide input to policymakers as they develop the best approach to establishing a successful exchange model in Iowa and South Dakota,” said John Forsyth, Wellmark chairman and CEO.
As always, we will remain focused on making sound fiscal decisions that best serve our members. Wellmark is proud to be one of the few Iowa insurance companies to exceed the ACA medical-loss ratio requirement to spend 85 percent of premium dollars on medical claims in the large group market (100+ employees), and 80 percent in the individual and small group markets. We will be here to serve our members today and in the future.