Yesterday, President Obama apologized for stating that those Americans who want to keep their present health plan would not lose coverage. Millions of policies have been cancelled because insurance companies cannot comply with the new regulations under the Affordable Care Act.
The President also stated that the compliance requirements for insurance companies have been extended for a year, so they can begin to reinstate those polices that were cancelled.
Unfortunately that may pose a problem. The companies would have to contact policy holders, explain to them their options for new coverage, make sure that the new policies are in compliance, and then process the polices. This of course would be quite costly.
The new plans under the Affordable Care Act are a better option for Americans because they offer better coverage. However many of the people who had their polices cancelled were young and healthy and satisfied with the plans that they previously had.
The President apologized for the problems with the healthcare website and promised that most of the kinks would be worked out by the end of the year. Read more at www.swampland.time.com.
The President also stated that the compliance requirements for insurance companies have been extended for a year, so they can begin to reinstate those polices that were cancelled.
Unfortunately that may pose a problem. The companies would have to contact policy holders, explain to them their options for new coverage, make sure that the new policies are in compliance, and then process the polices. This of course would be quite costly.
The new plans under the Affordable Care Act are a better option for Americans because they offer better coverage. However many of the people who had their polices cancelled were young and healthy and satisfied with the plans that they previously had.
The President apologized for the problems with the healthcare website and promised that most of the kinks would be worked out by the end of the year. Read more at www.swampland.time.com.
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