Filed Under:Carrier Innovations, Regulation/Legislation

Iowa insurance commissioner to give up his post

Nick Gerhart, Iowa's insurance commissioner, was the first state insurance regulator to face the collapse of an Affordable Care Act CO-OP carrier. (Image: Iowa Insurance Division/YouTube)
Nick Gerhart, Iowa's insurance commissioner, was the first state insurance regulator to face the collapse of an Affordable Care Act CO-OP carrier. (Image: Iowa Insurance Division/YouTube)

Nick Gerhart, the Iowa insurance commissioner, will be leaving that post Dec. 23, according to the Iowa Insurance Division.

Doug Ommen, deputy commissioner, will be the interim commissioner, officials say.

Gerhart is resigning because his family is expecting a fourth child, and he has not committed to any other future job, a representative said.

Gerhart has a bachelor's degree from the University of Northern Iowa and a law degree from St. Louis University. He worked in compliance for insurance companies before becoming the Iowa commissioner.

While serving as the Iowa commissioner, Gerhart expressed concerns about potentially misleading annuity advertising and oversaw the state's efforts to adapt to the Affordable Care Act. Iowa did not set up a state-based ACA public health insurance exchange, but it did take ACA Medicaid expansion money.

Iowa also helped managers of HealthCare.gov, the federal ACA exchange enrollment and exchange account administration system, promote the program.

Gerhart faced an early sign of problems in major ACA coverage expansion programs when CoOportunity, a nonprofit, member-owned carrier started with ACA Consumer Operated and Oriented Program startup loans, failed suddenly in late 2014. CoOportunity was the first CO-OP to fail. Since then, many others have shut their doors.

Related:

Are state insurance regulators overstepping their mark?

Voters choose state insurance commissioners

20 most helpful state insurance websites

Originally published on LifeHealthPro. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Featured Video

Most Recent Videos

Video Library ››

Top Story

4 trends shaping cybersecurity in 2017

Cybersecurity requires vigilance. Businesses can stay ahead with insights from ISACA's third annual cybersecurity study.

Top Story

U.S. cyber insurance continues to grow, according to Fitch Ratings

The top 15 writers of cyber held approximately 83% of the market in 2016.

More Resources

Comments

eNewsletter Sign Up

Carrier Innovations eNewsletter

Critical news on the latest tech solutions, information security, analytics and data tools and regulatory changes to help decision-makers at insurance carriers keep their business thriving – FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.