Administration Report Signaled Cancellation Problems

Thursday, 31 Oct 2013 03:01 PM

By Sandy Fitzgerald

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Obama administration knew all along that its signature healthcare law would disrupt private plans, putting at least 93 million Americans at risk of facing insurance cancellations, according to Forbes magazine.

A June 2010 edition of the Federal Register shows that administration officials were predicting large disruptions in the private insurance market, despite President Barack Obama's repeated promises that Americans could keep their insurance, Forbes reported.

The predictions were tied to the part of the Affordable Care Act laying out new minimum standards for coverage. Some existing individual plans would be grandfathered in, but many of them would not make the cut because of tightened regulations defining adequate coverage.

The administration projected in the register report that "40 to 67 percent" of individual private insurance plans would be canceled.

"The Departments’ mid-range estimate is that 66 percent of small employer plans and 45 percent of large employer plans will relinquish their grandfather status by the end of 2013,” the administration's report said.

When all the numbers are added up, Forbes noted, up to 93 million Americans may have to change their insurance plans or be subject to IRS penalties.

The White House has been busy this week doing damage control on the numbers. White House Spokesman Jay Carney insisted this week the disruption issue will affect "only 5 percent of the population."

"In some of the coverage of this issue in the last several days, you would think that you were talking about 75 percent or 80 percent or 60 percent of the American population," he said.

The number of cancellations aren't expected to be nearly that high. But nonetheless, Wisconsin Republican Sen. Ron Johnson and Michigan Republican Rep. Fred Upton are proposing their "Like Your Health Care Plan You Can Keep It Act," along with several other co-sponsors, Forbes reports.

The bill says that there should be nothing in the healthcare law that requires people to terminate their insurance and switch over to the Obamacare exchange.

Related Stories:
Bill Maher: Obama Should Not Have Lied About Obamacare
Report: Contractor Warned Obamacare Site Not Ready a Month Before Rollout





© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Kidnappers Threatened Foley After Ransom Demands Failed

Wednesday, 20 Aug 2014 22:36 PM

The chief executive officer of a Boston-based news organization says James Foley's kidnappers last week threatened to ki . . .

Holder Meets Ferguson Residents in Bid to Quell Days of Unrest

Wednesday, 20 Aug 2014 20:31 PM

 . . .

Officer Who Pointed Gun at Protesters Suspended

Wednesday, 20 Aug 2014 18:26 PM

Officials say a police officer who was part of the effort to keep peace during protests in Ferguson has been suspended f . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved