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View Full Version : Second wave of health plan cancellations looms



Little-Acorn
11-21-2013, 10:54 AM
If you thought the present cancellations were bad, you ain't seen nothin yet.

The next wave will be ten or twenty times as big.

We had to pass the bill to find out what was in it... or so our leaders told us.

If the captain of the Titanic had told the passengers, "We have to hit the iceberg to find out if the ship is really "unsinkable!" ....how long do you think he would have remained captain?

How long would he deserve to remain captain?

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http://www.foxnews.com/politics/2013/11/20/second-wave-health-plan-cancellations-looms/

Second wave of health plan cancellations looms

Published November 20, 2013 •
FoxNews.com

A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall -- right before the mid-term elections.

The next round of cancellations and premium hikes is expected to hit employees, particularly of small businesses. While the administration has tried to downplay the cancellation notices hitting policyholders on the individual market by noting they represent a relatively small fraction of the population, the swath of people who will be affected by the shakeup in employer-sponsored coverage will be much broader.

An analysis by the American Enterprise Institute, a conservative think tank, shows the administration anticipates half to two-thirds of small businesses would have policies canceled or be compelled to send workers onto the ObamaCare exchanges. They predict up to 100 million small and large business policies could be canceled next year.

"The impact I'm mostly worried about is on small young, entrepreneurial firms that will suddenly face much higher health insurance premiums if they want to offer health insurance to their employees," said AEI resident scholar Stan Veuger. "I think for a lot of other businesses ... they can just send their employees to the exchanges or offer them a fixed subsidy every month to buy health insurance themselves."

Under the health care law, businesses with fewer than 50 workers do not have to provide health coverage. But if they do, the policies will still have to meet the benefit standards set by ObamaCare.

As reported by AEI's Scott Gottlieb, some businesses got around this by renewing their policies before the end of 2013. But the relief is temporary, and they are expected to have to offer in-compliance plans for 2015. According to Gottlieb, that means beginning in October 2014 the cancellation notices will start to go out.

Then, businesses will have to either find a new plan -- which could be considerably more expensive -- or send workers onto the ObamaCare exchanges.