Wellmark Blue Cross Blue Shield has told 30,000 customers in Iowa it plans to raise their premiums by between 38 and 43 percent next year, reports The Des Moines Register.
The rate increase will affect customers who purchased relatively new plans to comply with Affordable Care Act regulations.
Wellmark executive vice president Laura Jackson blamed the rate increase on a rise in medical costs and a greater number of plan members in poor health. Wellmark administers plans for about three-quarters of Iowa's individual policy market.