The big news today is that the President made a speech where he said the law Affordable Care Act (Obamacare) would no longer require individual plans, previously issued to individuals, to be cancelled on December 31, 2013.
Cancellation notices have been sent to hundreds of thousands of consumers, and by some estimates, up to a million in CA alone as required by the various provisions of Obamacare.
But now, 45 days before the deadline, Mr. Obama himself says he can change that. The truth is that the new rules of engagement outlined in this morning’s speech do nothing to compel the insurance companies to rescind the cancellation notices to their future former clients, and the proposed reprieve is only a temporary one year reprieve.
Some of my clients are having their health insurance rates reduced due to subsidies for which they will now qualify under Obamacare, but others are having their costs for coverage drastically increase because they earn too much money to qualify for a subsidy.
As a general rule, in most government programs there are winners and losers.
As a certified Covered CA Health Insurance agent and still licensed to write insurance “outside” of the government program, I can say from first-hand experience that this is NO exception to that rule.