DES MOINES, Iowa (AP) – Two state senators want Iowa to investigate whether the state’s dominant health insurer really needs $1.3 billion in reserves.  Sens. Jack Hatch and Matt McCoy, both Des Moines Democrats, are skeptical about Wellmark Blue Cross & Blue Shield’s reserves because Wellmark has decided against participating next year in the state’s health insurance exchange.  Wellmark did not respond to a request for comment.

The Des Moines Register reports that Hatch delivered a letter Monday to Insurance Commissioner Nick Gerhart, asking for the investigation. Hatch says state regulations require the insurer to have reserves of only $350 million. Gerhart said last month he might investigate Wellmark’s need for the large reserve if the company didn’t take the risk of entering the exchange.