Iowa's only Obamacare insurer seeks 57 percent rate increase
Insurance company Medica is the last insurer from the Affordable Care Act marketplace selling individual insurance plans in the state of Iowa.
In May, the company announced that their 2018 insurance premium rates would rise an average of 43%, but due to uncertainty over government subsidy payments, they have asked to raise silver plan premiums by 57%.
Medica is currently the only option for their 14,000 Iowa clients to get subsidized payments for individual insurance.
The company blames the Trump administration for the fare hike, citing the lack of commitment to paying the cost sharing reductions, which help to cover co-pays and deductibles for lower income Americans.
A Medica spokesperson said, "We remain hopeful the federal government will fund the cost sharing reductions, but we are working with the Iowa Insurance Division to help consumers understand the implications of this lack of funding."