Medica weighs staying in Iowa’s health exchange next year

Iowa’s last health care insurer to sell policies to individuals statewide through the federal Affordable Care Act said Monday it needs to know more about how the state’s insurance market will function next year before making a final promise to stay.

Minnesota-based Medica has preliminary plans to sell insurance in Iowa next year in the individual market and expects to make an announcement soon, spokesman Larry Bussey said.

Monday is the filing deadline for companies planning to participate in the Iowa market to file rate plans for 2018, but insurers have until September to make a final decision on whether to sell policies on the state’s exchange.

Iowa last week applied for a federal waiver that would allow government subsidies designed to lower costs for low-income and older participants to be used to entice younger people to buy insurance. It was viewed as an effort to keep…

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