by William Teach | February 7, 2014 7:29 am
If the law is so bad, so poorly written, so poorly implemented, perhaps it should simply be scrapped and replaced with legislation that works
(AP) The Obama administration is considering an extension of the president’s decision to let people keep their individual insurance policies even if they are not compliant with the health care overhaul, industry and government officials said Thursday.
Avalere Health CEO Dan Mendelson said Thursday that the administration may let policyholders keep that coverage for as long as an additional three years, stressing that no decision has been made. Policymakers are waiting to see what rate hikes health insurers plan for the insurance exchanges that are key to the overhaul’s coverage expansions.
Less you think that this is just a health industry guy speaking out, along with Aetna Inc. Chairman and CEO Mark Bertolini
Health and Human Services spokesman Joanne Peters confirmed that the issue is under discussion, saying: “We are continuing to examine all sorts of ways to provide consumers with more choices and to smooth the transition as we implement the law. No decisions have been made.”
The time where people can keep those “junk” plans, as the administration termed the plans dropped for 4.7-6 million citizens, was already extended through an administrative fix, was for only one year. This second administrative fix would push it out past 2016, or even possibly to 2017, depending on whether it is added to the original. Either way, it would *Surprise!* head past the 2016 general election.
Nothing is settled yet, this seems to simply be in free-flow bull-session status at this time, but for the most part it would simply be all talk, because a good chunk who lost their plans were not able to get them back. This would be about optics.
BTW, in a hilarious bit of irony, the parent company of the Huffington Post, AOL, is reducing their 401(k) benefits due to Obamacare, per AOL’s CEO Tim Armstrong
“Obamacare is an additional $7.1 million expense for us as a company, so we have to decide whether or not to pass that expense to employees or whether to cut other benefits,” AOL’s Chairman and CEO Tim Armstrong told CNBC Thursday morning. AOL is the parent company of The Huffington Post.
So, it’s not just health insurance, jobs, and job hours that are being damaged thanks to their horrendous law.
Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.
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