DES MOINES, IOWA (AP) -- A review by an actuarial firm of a Wellmark Blue Cross Blue Shield health insurance rate increase has determined the increase is justified.
Iowa Gov. Chet Culver ordered the review after questions were raised about what was behind the insurer's 18 percent average rate increase. The increase is expected to affect about 80,000 Iowans who buy their own health care insurance. Some Wellmark consumers say they will see rates spike 50 percent or more.
The Iowa Insurance Division announced Monday the review by Philadelphia-based INS Consultants "confirmed the conclusion reached by the insurance division that the requested rate increases were actuarially justified."
The increase, announced in February, was stayed 30 days, pending the outcome of the independent rate review.
Wellmark spokesman Rob Schweers says the rate increases for premiums will go into effect May 1.
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