DES MOINES, Iowa (AP) — The Iowa Insurance Division is investigating an insurance agency that’s accused of overbilling thousands of government employees for health care coverage.
The Des Moines Register says the division is focused on Two Rivers Insurance Co. The agency had been acting as an independent agent selling insurance for Wellmark and other companies.
Wellmark spokesman Traci McBee says Wellmark ended its relationship with Two Rivers on April 9 because Two Rivers had “marked up some of its customers’ health insurance premiums without Wellmark’s knowledge.”
Todd Ackerman of Two Rivers said the company “categorically disagrees” with Wellmark’s conclusion. He acknowledged Wellmark’s allegations “revolve around the way we were compensated, and we believe we were transparent.”
State insurance commissioner Nick Gerhart acknowledged that the state was investigating but provided no details.