Monday, December 23, 2013

OBAMACARE FIASCO: More Changes in Obamacare leave Insurers Rattled

A spree of surprise changes to the health-care law in recent weeks has rattled insurers, who say the Obama administration's pronouncements could undermine the law's new marketplaces. 
The latest change, announced Thursday, days before the Dec. 23 deadline to choose coverage starting Jan. 1, allows people of any age whose current coverage is being phased out under the law to buy so-called catastrophic coverage. These plans, with limited benefits and high deductibles, were mainly reserved for customers under age 30.
In November, President Barack Obama urged insurers to resurrect plans that had been canceled for next year. A week later, the administration delayed a key enrollment deadline to Dec. 23, giving insurers less time to sort out new customers before coverage is set to begin in January. In mid-December, officials asked insurers to cover some services even for customers who hadn't paid their bills by Jan. 1.
Together, the shifts increase administrative burdens and leave insurers with less confidence they know the rules of the game. Allowing desirable customers to opt out of the new exchanges or delay decisions inserts new risk in the marketplaces. Insurers say that could translate to higher prices that would jeopardize the law's success. 
"This all just adds to the complexity," said Matt Wiggin, a spokesman for Aetna Inc., which has a major presence in the new marketplaces. 
Consumers may "choose to wait out coverage decisions, knowing that their options could change yet again," said Humana Inc. spokesman Tom Noland. Humana offers plans in 14 states.
Read the rest of the Story HERE.

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Ohio JOE said...

Ah, but we were told that everything was good to go.

RomneyMan said...

"leave Insurers Rattled "

lol, yes, I bet they are, you know, having to finally give up the discrimination and insure pre existings without bankrouting them.

With a bit if luck it will not be "leave Insurers Rattled", but something along the lines of 'another rip off insurance company puts the boards up on it's windows for good'