Insurance Commissioners ‘Concerned By’ Obamacare Fix

|
November 14, 2013 2:35 p.m.

The National Association of Insurance Commissioners, which represents state regulators nationwide, said it was “concerned by” the Obamacare fix proposed Thursday by the White House.

NAIC’s reaction is particularly notable because, as a letter sent by the administration to insurance commissioners indicates, the fix relies on state authorities implementing it.

“We… are concerned by the President’s announcement today that the federal government would use its ‘enforcement discretion’ to delay enforcement of the ACA’s market reforms in 2014 for plans that are currently in effect,” NAIC President and Louisiana Insurance Commissioner Jim Donelon said in a statement. “This decision continues different rules for different policies and threatens to undermine the new market, and may lead to higher premiums and market disruptions in 2014 and beyond.”

“In addition, it is unclear how, as a practical matter, the changes proposed today by the President can be put into effect. In many states, cancellation notices have already gone out to policyholders and rates and plans have already been approved for 2014. Changing the rules through administrative action at this late date creates uncertainty and may not address the underlying issues.”

“We look forward to learning more details of this policy change and about how the administration proposes that regulators and insurers make this work for all consumers.”

Latest Dc
Comments are now Members-Only

Non-members are still able to read comments, but will no longer be able to participate. To join the conversation, sign up now and get:

30% Off Annual Prime Membership

TPM strives to build as inclusive a community as financially possible. We offer FREE memberships to those experiencing financial hardship and FREE memberships for students.

View all options
Comments
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Associate Editor:
Investigations Desk:
Reporters:
Newswriters:
Audience Development Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front End Developer:
Senior Designer: