(Bloomberg) — Hundreds of thousands of people whose health plans are being canceled because their coverage doesn’t meet Obamacare rules will be exempt next year from the U.S. mandate that all Americans carry medical insurance.
People losing coverage will now be allowed to buy bare-bones “catastrophic” insurance that the law usually limits to those younger than age 30, the Centers for Medicare and Medicaid Services said Thursday. Others can opt out completely without the threat of the fines being imposed next year on the uninsured as part of the Affordable Care Act.
