President Obama came under intense scrutiny over his initial promise that if people liked their health insurance plans, they could keep them even after the Affordable Care Act (ACA) went into effect. After many Americans received cancellation notices from their insurance companies, despite the president’s promise, Obama announced a change to ACA requirements. He deferred power to the states as to whether or not to allow the extension of health insurance plans that do not meet the minimum standards of the new law.
Oregon Insurance Commissioner Laura Cali then decided to permit Oregon insurance companies to extend these policies, resulting in announcements from nine insurers that they would continue offering the plans in 2014. Other states, such as California, are not allowing insurers to extend plans that do not meet ACA requirements.
Did you receive a cancellation letter because your health plan did not meet Affordable Care Act standards? Will you extend your policy if your insurer allows it?