NJ Obamacare: No decision yet on whether canceled health insurance can be renewed
By Michael L. Diamond, Asbury Park Press, N.J. | |
McClatchy-Tribune Information Services |
That's because health insurers continued to await word Wednesday on whether
And the state said they'll have to wait some more.
The delay prompted brokers to warn individuals that even if the state allows them to purchase their old policies again, the prices still might be higher. And it prompted small-business owners to discover a way to delay the impact of new insurance plans at least for another year.
"I don't believe there's going to be a way to back out of (the initial requirements)," said
The issue is the latest flare-up in the rollout of the Affordable Care Act. It involves an estimated 800,000 New Jerseyans who are insured through policies sold either on the individual market or the small-employer market -- about 10 percent of the state's population.
They are in insurance turmoil. Many received letters from their carriers saying their policies didn't meet the coverage standards of the Affordable Care Act and wouldn't be renewed. They have found the new policies cover more services, but also can be much more expensive, at least before they factor in any tax breaks they are eligible to receive.
It caught them off-guard, in part because of assurances from President
To douse the political firestorm, Obama sent letters to state insurance commissioners last week, giving them the option to continue for at least another year coverage that otherwise would have been phased out.
On Wednesday, a statement from the
It wasn't clear what questions state regulators had. A spokesman didn't respond to a follow-up question.
Insurers, however, have said it will be difficult to change course, particularly with only six weeks left in the year. They would need to set prices again for a new group of policies.
Moreover, the
Presumably, low-risk consumers would keep their previous plans; high-risk consumers would need more expensive plans; and, without young, healthy consumers contributing as much to the system, premiums already approved by regulators for 2014 may not be enough to cover the claims, the actuaries said.
Looking for alternatives
It has left some
Scuorzo said some of his clients who were insured by Horizon Blue Cross Blue Shield of
Small businesses have opted instead to simply renew the policy beginning
"Companies are not even hesitating to renew early," Scuorzo said. "We kicked the can down the road for a year."
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