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Saturday, November 16, 2013

Conservative groups warn of new wave of insurance cancellations -- Susan Crabtree, The Washington Examiner

Photo - Insurance companies have been dropping individuals from current plans which do not meet Obamacare's new requirements, creating a firestorm of controversy and undercutting public support for the president's signature achievement.President Obama and Congress are focused on preventing millions of Americans from losing their insurance plans because of the new health care law, but conservative groups warn that a bigger tidal wave of cancellations is building - and is set to hit just before the 2014 midterm elections.

Insurance companies have been dropping individuals from current plans that do not meet Obamacare’s new requirements, creating a firestorm of controversy and undercutting public support for the president’s signature achievement.

The White House insists that the problem is limited to people who buy their own insurance and have said that group represents only 5 percent of the insurance market.

In the coming year, many small businesses – those with fewer than 50 employees—will be forced to deal with the same dynamic that led to the individual-plan terminations.

Over the summer, the White House lifted for one year the requirement that these companies must offer their employees insurance. But next fall when the mandate kicks in, the plans businesses offer will be subject to the same regulations that are spurring the current wave of cancellations.

Businesses will be forced to make a decision: offer a plan that complies with Obamacare at higher costs or tell employees to find health care on the federal exchange.

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