While the Obama administration’s announcement that Americans whose health care plans have been canceled because they fall short of the Affordable Care Act’s standards have been granted a one-year reprieve, a trade group of health insurance plans maintains changing the rules now could destabilize the market and result in higher premiums for consumers.
“The only reason consumers are getting notices about their current coverage changing is because the ACA requires all policies to cover a broad range of benefits that go beyond what many people choose to purchase today,” said Karen Ignagni, president and CEO of America’s Health Insurance Plans in a statement released today. “Changing the rules after health plans have already met the requirements of the law could destabilize the market and result in higher premiums for consumers. Premiums have already been set for next year based on an assumption of when consumers will be transitioning to the new marketplace. If due to these changes fewer younger and healthier people choose to purchase coverage in the exchange, premiums will increase in the marketplace and there will be fewer choices for consumers.”
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