Officials at Gundersen Lutheran Health Plan, which is now part of a merged company called "Quartz Benefits," have announced the firm will not offer individual and family health plans in the individual market in Iowa, including plans sold on the Health Insurance Marketplace, effective January 1st.
The company says it will be sending a letter to approximately 370 current Gundersen Health Plan customers who live in Allamakee, Clayton, Fayette, Howard and Winneshiek counties, letting them know they will need to look for a different health insurance carrier for 2018 coverage when open enrollment begins November 1st of this year.
All existing Gundersen Health Plan policies in Iowa will be honored through December 31st. Gundersen Health Plan will continue to offer employer-based and small group health insurance coverage in Allamakee, Clayton, Fayette, Howard and Winneshiek counties.
Gundersen Health Plan says it made the decision to exit Iowa's Individual Health Insurance Marketplace due to unstable market conditions, saying, "Without stable market conditions, we cannot continue to offer affordably priced plans on the exchange to individuals in Iowa."
Midwest Group Benefits Inc. Benefits Consultant and Business Development Consultant Brian Huinker in Decorah reacted by saying, ""Any time you see a carrier leave the market it is troubling. I hate to be Captain Obvious, but when insurance companies lose money, rates go up."