Some NE Iowans would be affected by proposed CoOpportunity Health rate increase

A health insurance company formed in advance of the Affordable Care Act--CoOportunity Health--has now requested a 14.3 percent base premium rate increase from the Iowa Insurance Division.  Under Iowa law, any health insurance company wanting to increase base rates in excess of 6.1 percent (the national annual average health spending growth rate) must apply for permission for the rate increase from the Iowa Insurance Division.  The state has scheduled public hearings on the request in Cedar Rapids, Mason City, Des Moines, Spencer, Burlington, Fort Dodge and Council Bluffs.

The proposed base premium rate increase would impact Individuals who bought CoOportunity Health Insurance in the private market without a federal subsidy or tax credits (in other words, NOT through the health insurance exchange set up by the Affordable Care Act).  Any increase would be effective on January 1st 2015.

People who bought health insurance through the health insurance exchange will pay the same amount for insurance in 2015, assuming their income stays the same, since the federal government will increase your subsidy/tax credit to off-set the increase.

Group health insurance plans through CoOportunity Health will not be affected.

Open enrollment through the Affordable Care Act will resume on November 15th and will run until February 15th.  People are still eligible to enroll or make changes to their health insurance between now and November 15th if they have a life changing event (Birth, Adoption, loss of employer coverage, child turning 26, divorce, loss of Medicaid, marriage, loss of eligibility for subsidies, move to a new plan area, currently enrolled in COBRA, or expiration of COBRA.)