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Wellmark Seeking 43 Percent Rate Increase For 14,000 Members

Associated Press0

SIOUX FALLS, S.D. (AP) — Wellmark Blue Cross Blue Shield is proposing to raise rates by almost 43 percent for its South Dakota members who’ve signed up for individual health plans outside of the federal marketplace.

Wellmark is the largest private health insurer in the state. About 14,000 South Dakotans have individual insurance plans through the company.

The company says an increase of larger claims, a substantial increase in volume and cost of prescriptions and more than 60 members who cancelled coverage after receiving costly care are leading to the rate hike.

Other companies that provide insurance in South Dakota say they’ve also applied for rate increases.

Sanford Health Plan won’t say the amount it’s seeking until it’s approved by the state. Avera Health Plans expects an increase to be in the “low teens.”

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