President Obama repeatedly assured Americans that after the Affordable
Care Act became law, people who liked their health insurance would be
able to keep it. But millions of Americans are getting or are about to
get cancellation letters for their health insurance under Obamacare, say
experts, and the Obama administration has known that for at least three
years.
Four sources deeply involved in the Affordable Care Act tell NBC NEWS
that 50 to 75 percent of the 14 million consumers who buy their
insurance individually can expect to receive a “cancellation” letter or
the equivalent over the next year because their existing policies don’t
meet the standards mandated by the new health care law. One expert
predicts that number could reach as high as 80 percent. And all say that
many of those forced to buy pricier new policies will experience
“sticker shock.”
None of this should come as a shock to the Obama administration. The
law states that policies in effect as of March 23, 2010 will be
“grandfathered,” meaning consumers can keep those policies even though
they don’t meet requirements of the new health care law. But the
Department of Health and Human Services then wrote regulations that
narrowed that provision, by saying that if any part of a policy was
significantly changed since that date -- the deductible, co-pay, or
benefits, for example -- the policy would not be grandfathered.
Buried in Obamacare regulations from July 2010 is an estimate that
because of normal turnover in the individual insurance market, “40 to 67
percent” of customers will not be able to keep their policy. And
because many policies will have been changed since the key date, “the
percentage of individual market policies losing grandfather status in a
given year exceeds the 40 to 67 percent range.”
That means the
administration knew that more than 40 to 67 percent of those in the
individual market would not be able to keep their plans, even if they
liked them.
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Tuesday, October 29, 2013
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