Monday, October 20, 2014

Absolutely One of the Strangest Reasons Why Health Insurance Plans are Getting Cancelled Under Obamacare

This sounds to me like some kind of crony method of causing most insurance plans to eventually be flipped into different plans, and perhaps flipped again.

As Carlyle Group co-founder would put it, "The devil is in the details."

1 comment:

  1. Mostly true, but it errs in several important details:
    1) Only non-grandfathered/new policies in the small group and individual markets are subject to the metal level requirements.
    1a) If you have coverage through a large employer, it isn't required to fall within the metal levels.
    1b) If you are still on the plan you had when the law was enacted (March 23, 2010), your insurance company can maintain that plan (if they choose to) and the metal levels don't apply.
    2) Health insurance companies can make material modifications to existing plans to keep them in a metal level... so most people in these plans won't have to switch each year to a new plan, but their existing plan will be slightly modified.
    I sometimes worry that when a great organization like Mercatus puts out information that is only mostly true it loses credibility when its predictions don't come true. Alas, the ACA is a mind-numbingly complex piece of destruction that loses most people and so few will recall that Mercatus made these mistakes.