Under Pressure, Obama Reconsiders Existing Insurance Plans
This week in healthcare, strong pressure from both sides of the aisle causes President Obama to reconsider his promise that Americans could keep their existing insurance plans.
Since President Obama’s announcement, the pressure has now been put on insurers to figure out how (and whether) to extend their existing plans, despite millions of cancellation notices already mailed. How will this “fix” affect insurance companies? Several prominent insurers’ executives weigh in.
UnitedHealth Group dropped thousands of doctors from its networks in recent weeks, leaving many elderly patients unsure whether they need to switch plans to continue seeing their doctors, the Wall Street Journal reported on Friday.
After strong pressure from both Republicans and Democrats, President Obama announced on Thursday that insurance companies would be allowed to extend non-ACA-compliant plans for another year. On the hill, reactions were mixed.
Meanwhile, as ACA plan enrollments trickle in, a lack of younger, healthier enrollees may cause a rise in premiums or the flight of some providers if the trend continues.
Patients and insurers now have another year to figure out their new insurance plans. But what does that mean? Here’s what you need to know about President Obama’s Thursday announcement.
In an interview Tuesday, former president Bill Clinton said, “even if it takes a change in the law, the president should honor the commitment the federal government made to those people and let them keep what they got.” This was likely the last straw in the tidal wave of public opinion that caused President Obama to allow the extension of existing plans.