11/19/2013 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Washington – Insurance commissioners voiced concerns over problems linked to the rollout of the new healthcare law with President Barack Obama on Wednesday. As reported by Reuters, Obama and the National Association of Insurance Commissioners met to discuss how he proposed to address problems with millions of insurance premiums being cancelled due to their no longer being valid under the Affordable Care Act.
Obama last week proposed a “fix” for the problem in allowing insurers to extend premiums for a year even if minimum standards outlined in the law were not met. Commissioners purported; however, that the solution could result in higher premiums.
Jim Donelon, NAIC president and Louisiana insurance commissioner, is quoted by Reuters as saying of the issue in a statement, “state regulators have been working to ensure that plans are compliant with the new rules. These proposed changes are creating a level of uncertainty that we must work together to alleviate.”
Donelon is further quoted as stating, “We share the President’s goal of affordable coverage for consumers, and we will work with the insurance companies in our states to implement changes that make sense while following our mandate of consumer protection.”
This report is provided by Justice News Flash – Washington Legal News
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