Review backs top Iowa insurer's $1.3B reserve fund - KWWL - Eastern Iowa Breaking News, Weather, Closings

Review backs top Iowa insurer's $1.3B reserve fund

Posted: Updated:
IOWA CITY (AP) -

The $1.3 billion in reserves held by Iowa's dominant health insurer is "reasonable and prudent" for now, according to a review by an independent consultant.

Iowa Insurance Commissioner Nick Gerhart hired Risk and Regulatory Consulting, LLC, to review whether Wellmark Blue Cross and Blue Shield had the right amount of customers' money in reserves.

Its report released Wednesday says Wellmark is holding an appropriate amount given the risks the company faces. The report says a smaller future surplus might be needed if the insurance market stabilizes following full implementation of federal health reform.

Some Democratic lawmakers, including gubernatorial candidate Jack Hatch, demanded an investigation into Wellmark's reserves, contending much of that money should be returned to policyholders.

Wellmark provides coverage for more than 2 million people in Iowa and South Dakota.

  • NEWSNEWSMore>>

  • news alert

    UPDATE: Waterloo suspects arrested after man's body found

    UPDATE: Waterloo suspects arrested after man's body found

    Tuesday, September 16 2014 10:19 AM EDT2014-09-16 14:19:15 GMT
    Anthony Tronca, 43, of Waterloo and Jessica Tronca, 29Anthony Tronca, 43, of Waterloo and Jessica Tronca, 29
    Police say Anthony Tronca and Jessica Odgen have been arrested.More >>
    Police say Anthony Tronca and Jessica Odgen have been arrested.More >>
  • UN: Nearly $1 billion needed now to stop Ebola

    UN: Nearly $1 billion needed now to stop Ebola

    Tuesday, September 16 2014 9:36 AM EDT2014-09-16 13:36:56 GMT
    President Obama is expected to announce later Tuesday that the United States will be sending 3,000 American troops to help provide aid.More >>
    President Obama is expected to announce later Tuesday that the United States will be sending 3,000 American troops to help provide aid.More >>
  • House GOP moves ahead on Syrian rebel training

    House GOP moves ahead on Syrian rebel training

    Monday, September 15 2014 10:31 PM EDT2014-09-16 02:31:32 GMT
    This week offers Congress its best chance to get answers about President Barack Obama's new Mideast counterterror strategy.More >>
    Lawmakers raced Monday to authorize an expanded mission to arm and train moderate Syrian rebels before heading back to the campaign trail, with House Republicans preparing legislation backing a central plank of President...More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KWWL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Sandy Youngblut at 319-291-1259. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.