Monday, November 18, 2013

Small Businesses are in Limbo over Obamacare now that Obama has changed the rules on Cancelled Policies

Davidson Goldin was disappointed when he learned in September that his small business's health-care plan was being discontinued. Now it's possible he'll be able to keep it after all. 
President Barack Obama on Thursday said he would allow insurers to extend by one year those policies they had canceled for failing to meet the health-care law's requirements. 
Such policies include small-group plans, which apply to employers with fewer than 50 or 100 employees, depending on the state. 
[...] 
Mr. Goldin, founder of a six-person communications firm in New York, is among the millions of Americans who have received notices from their insurance providers indicating that their health plans would be discontinued by year's end. Mr. Goldin says he and his staff like the plan they have from insurance company EmblemHealth. 
He is now in the process of signing the firm up for a new plan with a different insurer. He says the new plan, which meets the law's requirements, "is no better than the old plan," but costs about 30% more a month per person. He adds that he would have liked to keep the old plan if he were allowed to do so. 
David Mahder, a spokesman for EmblemHealth, said via email that the company "will be waiting for further guidance from New York State and how [it] will be proceeding under the Insurance Law." 
Insurers aren't obligated to take up the president's offer, and it may be difficult for them to revive canceled policies in short order. But a one-year reprieve could allow many small businesses to save on health-care costs for 2014.
Read the full story HERE.

Insurance companies are NOT REQUIRED to re-issue old policies for one year. And why should they. Because Obama screwed up?

They've already done all the work preparing for the new law..What are they supposed to do now? Put their new plans on hold and start all over again with the old for ONE YEAR?

My feelings are this...if I were running one of these insurance companies, I WOULDN'T DO IT!...Obama made his bed..now let him sleep in it...and let him and the Democrats that supported Obamacare, LIVE WITH THE RESULTS also.

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