Health insurer Medica to stay in Iowa if subsidies remain

DES MOINES, Iowa (AP) - A spokesman for health care insurer Medica says it plans to sell insurance in Iowa next year if the federal government continues to fund subsidies for low-income participants using the Affordable Care Act exchange.

Medica spokesman Larry Bussey says Monday a final decision will be based on federal rules. A final decision is expected in September.

Medica is the only statewide insurer left in Iowa. State insurance officials feared the Minnesota-based company might also leave, causing 72,000 people to have no choice next year.

Iowa last week applied for a federal waiver that would allow federal subsidies designed to lower costs for low-income and older participants to be used to entice younger people to buy insurance in hopes of keeping Medica and perhaps attracting others back to the Iowa market.

Top Videos

Latest News

This Week's Circulars