Tag: Obamacare

Emerging Issues

N.Y. Attorney General, EmblemHealth Reach Settlement Over Continuation Coverage

In a press release, Attorney General Eric Schneiderman announced that his office had conducted an investigation into widespread violations of New York’s Age 29 Law, which requires health insurers to offer young adults continuation health coverage on their parents’ policies until they turn 30. Following the investigation, a settlement was reached with the health insurer requiring it to reinstatement health coverage to more than 8,000 young adults whose coverage was wrongly terminated, and to pay approximately $90,000 in denied claims.

The federal Affordable Care Act …

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Emerging Issues

The ACA and the Fountain of Youth

 

First it was Ponce de Leon and now it’s the ACA searching for the Fountain of Youth.   With 2014 here, implementation of the Affordable Care Act healthcare exchanges is underway.  Insurers cannot deny coverage based on health status. Insurers can charge higher rates based on age, but cannot charge any more than 3 times the rate of a young individuals.  These ratios may not adequately cover the risk. But, one of the premises under which the healthcare exchanges operate is that a sufficient number …

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Emerging Issues

President Obama’s ACA Extension – NAIC Response

With the January 2014 effective date under the Affordable Care Act’s (ACA) essential benefits and guaranteed coverage provisions quickly approaching, several million people have received a cancellation notice. Facing wild criticism, President Obama responded with a regulatory fix that will allow Americans to keep ACA non-compliant insurance policies, albeit temporarily.

The extension gives American consumers the option to renew their current non-conforming plans for one year. This extension mostly affects those plans not grandfathered in under the ACA, including those newer policies that were purchased …

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