WEAR - Search Results
President Obama makes changes to Affordable Care Act
President Obama is offering a fix to those Americans who had their health care coverage cancelled due to the Affordable Care Act.
"Insurers can extend current plans that would otherwise be cancelled into 2014."
That means the administration is now putting the burden on the insurance companies to make consumers happy.
Insurers say this could be a gigantic, complicated mess.
Cancelled plans now have to be re-priced and filed with state regulators for approval.
The whole process usually takes months.
They warn that changing the rules after health plans have already met the requirements of the law could destabilize the market and result in higher premiums.
"Insurance companies may still come back and say, we want to charge you 20 % more than we did last year, or we're not going to cover prescription drugs now"
We have put the presidents entire speech on our website.
If you want to watch it, just head over to weartv.com and click on the Raw News tab.