Confederation Council Foundation for Africa Inc.,
Will states accept Obama’s insurance exchange fix?
The uproar forced Obama to backpedal. He’ll now allow health insurance companies to continue to offer plans that do not meet his law’s standards for an additional year, to give people more time to transition to the new federal marketplace.
Ohio and Kentucky’s commissioners also said they would allow the change, but mentioned it would be up to the insurers themselves whether to reach out to people with canceled plans and offer them renewal.
Ignagni said the change means more people could end up staying on their old plans, which will hike up costs for people participating in the new exchange. Many people on the individual market are younger and healthier, which means they are especially needed to participate in the new marketplace and offset the costs of older and sicker consumers.