by Karl Utermohlen | August 28, 2013 12:09 pm
The Obama administration is delaying the deadline to sign final agreements on federal health insurance provided by the government.
Reuters reports that the agreements for Obamacare were expected to be signed between September 5 and 9, but the U.S. Department of Health and Human Services told insurance companies that these plans have been delayed. Insurance companies will have to wait until mid-September to finalize these agreements, but the marketplaces will still open on October 1 as scheduled.
The delay may have been caused by technical difficulties within the federal information technology system, but this has yet to be confirmed. Although marketplaces are expected to open on October 1, the most critical date is January 1 when the coverage starts to kick in — it would be a lot more problematic if that date was delayed.
The delay is expected to affect the insurance plans of people in the 34 states that are getting marketplaces set up by the government — the other 16 states are setting up their own marketplaces and should not be affected by this delay.
Want to share your own views on money and politics? Drop us a line at firstname.lastname@example.org and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.
Source URL: http://investorplace.com/investorpolitics/government-delays-key-obamacare-deadline/
Short URL: http://investorplace.com/?p=394465
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.