Author Topic: You ‘Could Destabilize the Market’: Insurance Industry Warns of Problems With Obama’s Health Care ‘Fix’  (Read 218 times)

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Offline happyg

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Becket Adams
President Barack Obama announced Thursday a “fix” for the millions of Americans who have lost their health insurance coverage due to the Affordable Care Act — a fix could “destabilize the market,” according to America’s Health Insurance Plans (AHIP).

“Making sure consumers have secure, affordable coverage is health plans’ top priority. The only reason consumers are getting notices about their current coverage changing is because the ACA requires all policies to cover a broad range of benefits that go beyond what many people choose to purchase today,” AHIP president and CEO Karen Ignagni said in a statement.

The president announced a one-year fix that would allow 2013 insurance plans “to be grandfathered in” so long as insurance companies inform consumers they might have a better deal from the Affordable Care Act exchanges, TheBlaze reported.

But AHIP doesn’t think this plan will work.

“Changing the rules after health plans have already met the requirements of the law could destabilize the market and result in higher premiums for consumers. Premiums have already been set for next year based on an assumption of when consumers will be transitioning to the new marketplace,” the statement reads.

“If now fewer younger and healthier people choose to purchase coverage in the exchange, premiums will increase and there will be fewer choices for consumers. Additional steps must be taken to stabilize the marketplace and mitigate the adverse impact on consumers,” it adds.

AHIP is one of the insurance industry’s leading lobbying groups.

http://www.theblaze.com/stories/2013/11/14/you-could-destabilize-the-market-insurance-industry-warns-of-problems-with-obamas-health-care-fix/?utm_source=twitterfeed&utm_medium=twitter

Offline Chieftain

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yep...Insurance Companies operate at the pleasure and under the supervision of the various States, and it takes months if not years to work up an insurance product and have it work its way through the many various mandatory legal and oversight agencies before the Company can even send out a letter offering to sell that product to potential customers.

These things do not happen over night and trying to comply with a brainless Federal "suggestion" like this one would be incredibly expensive and could well cause even more damage to the marketplace than has already been done.  Thankfully Obammy doesn't have the authority to mandate any of this, and already the Washington State Insurance Commissioner has told the Feds to go put this where the sun doesn't shine.

In the meantime, the damage continues and the cancellations will stand.

Offline Rapunzel

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yep...Insurance Companies operate at the pleasure and under the supervision of the various States, and it takes months if not years to work up an insurance product and have it work its way through the many various mandatory legal and oversight agencies before the Company can even send out a letter offering to sell that product to potential customers.

These things do not happen over night and trying to comply with a brainless Federal "suggestion" like this one would be incredibly expensive and could well cause even more damage to the marketplace than has already been done.  Thankfully Obammy doesn't have the authority to mandate any of this, and already the Washington State Insurance Commissioner has told the Feds to go put this where the sun doesn't shine.

In the meantime, the damage continues and the cancellations will stand.

I tried to explain this yesterday on another thread and it fell on deaf ears.. 
“The time is now near at hand which must probably determine, whether Americans are to be, Freemen, or Slaves.” G Washington July 2, 1776


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