Iowa's insurance department has delayed its planned release of premium rates for the new health insurance exchange in order to allow more time for Aetna-owned Coventry to make a decision, according to a Des Moines Register report.
Iowa Insurance Commissioner Nick Gerhart has pushed back the deadline for carriers to sign to participate in the new state exchange from next Monday to Sept. 16. Mr. Gerhart originally planned to release prices for the plans offered through the exchange next week, according to the report.
Although Mr. Gerhart told the Register Coventry officials have expressed enthusiasm for the state's exchange and haven't given any indication the insurer will opt out, he said he doesn't want to confuse people by releasing pricing information for Coventry only to have the insurer decide not to participate.
If Coventry opted out, most people would only have one carrier — CoOportunity Health — as an option for coverage through the exchange, which will open for enrollment next month under the Patient Protection and Affordable Care Act, according to the report.
Coventry's parent company, Aetna, has dropped out of exchanges in various states, including New York, Ohio, Maryland, Connecticut and Georgia. The insurer has also opted out of exchanges in Tennessee and Texas. Additionally, Aetna has announced it will drop out of California's individual insurance market entirely later this year for unspecified reasons.
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