Insurers: Obamacare Fix ‘Could Destabilize Market’

President Barack Obama speaks at the "SelectUSA Investment Summit," Thursday, Oct. 31, 2013 in Washington. Obama encouraged international businesses and investors to bring new investment and jobs to the United States.
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The insurance industry’s top lobbying group, America’s Health Insurance Plans, warned Thursday that the administration’s Obamacare fix could “destabilize the market and result in higher premiums for consumers.”

“Making sure consumers have secure, affordable coverage is health plans’ top priority. The only reason consumers are getting notices about their current coverage changing is because the ACA requires all policies to cover a broad range of benefits that go beyond what many people choose to purchase today,” AHIP president and CEO Karen Ignagni said in a statement.

“Changing the rules after health plans have already met the requirements of the law could destabilize the market and result in higher premiums for consumers. Premiums have already been set for next year based on an assumption of when consumers will be transitioning to the new marketplace. If now fewer younger and healthier people choose to purchase coverage in the exchange, premiums will increase and there will be fewer choices for consumers. Additional steps must be taken to stabilize the marketplace and mitigate the adverse impact on consumers.”

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