Medica will be the last and only health insurance carrier offering individual health insurance plans in Iowa for 2018. The Minnesota based health insurer will be the only option 72,000 Iowans who now buy their own insurance instead of obtaining in through an employer or government plan.
Medica has told Iowa regulators that in order to stay in the Iowa market they would need an increase in premiums on average of 43.5%. Many of the Iowans buying their own coverage are insulated from such increases as their subsidies will increase proportionately to the increase in premiums. The Affordable Care Act insulates consumers that are eligible for subsidies from paying more than 9.5% of their modified adjusted gross income for their insurance. Those receiving a subsidy will continue to use healthcare.gov to apply and receive subsidies.
Open enrollment begins onNovember 1st 2017 and runs through December 15th 2017. You can view plans and get quotes on Medica Iowa health insurance plans by mid-October. Medica will offer their large network plan that includes 100% of the hospitals and 97% of doctors in Iowa.
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