Wellmark: The Facts
As I mentioned the other day, Wellmark announced this week that they will leave the ACA under-65 individual market in Iowa in 2018. There has been a lot of misinformation produced by misinterpretation swirling about regarding this move, and I wanted to be sure to shed some light on who will and who will not be impacted. It is important to stress the fact that this change only impacts those on individual under-65 (years old) plans— This does, however, mean it will impact around 21,000 Iowans.
The impacted members will receive termination notices in mid-June and will have coverage until the end of the year. So be sure to pay attention to your mail.
THOSE NOT IMPACTED BY THIS CHANGE
If you are on any of the following plans, they will not be impacted by this change:
- Wellmark grandfathered or grandmothered under-65 plan
- Wellmark group plan
- Wellmark Medicare Supplement plan
It never hurts to reach out to a professional to be sure you understand this change. If you are not sure who to reach out to, please shoot me a note and I will get you in contact with one of our individual reps through Group Benefits, LTD. We have a great relationship with all of the carriers, especially Wellmark. This allows for us to receive "up to the minute" updates on what is going on and how best to deal with it. We will do everything we can to make this transition as smooth as possible.
Remember, the key to any smooth transition is starting early. Do not wait on this. Ask questions and understand your coverage.