Report: Millions May Lose Their Current Coverage Under Obamacare

by William White | October 29, 2013 1:44 pm

NewLetters Report: Millions May Lose Their Current Coverage Under Obamacare[1]Obamacare is causing millions of people[2] to lose their current health insurance.

Anywhere from 7 million to 14 million Americans may have their insurance plans cancelled by their private carriers because of Obamacare. More than 1.5 million people have already been notified that their plans will expire next year, but only 700,000 people have been able to register for a plan through Obamacare. Those 700,000 people include Medicare enrollees and people who may not be eligible for a plan through Obamacare. Plans are being cancelled because insurance companies are unable to keep them due to Obamacare. The law is suppose to allow plans to be grandfathered in, but a regulation that is part of the law has resulted in them being cancelled. The relegation makes it so that plans can only be grandfathered in as long as they have no significant changes made to them. These changes can include deductibles, co-pay and benefits, which are all things that can change regularly, reports Reuters.

According to the New York Post[3], 50% to 75% of the 14 million people who have individual insurance plans can expect them to be cancelled next year.

The opinions contained in this column are solely those of the writer.
 
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Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/11/NewLetters.jpg
  2. millions of people: http://www.reuters.com/article/2013/10/29/idUS322352186320131029
  3. New York Post: http://nypost.com/2013/10/29/white-house-finally-admits-obamacare-truth/

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