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Millions Will Lose Current Policy Under ObamaCare

Millions Will Lose Current Policy Under ObamaCare
Posted October 29th, 2013 @ 7:05am by Rob Quinn, Newser Staff

(NEWSER– NBC News and the White House are locked in a showdown over whether millions of Americans will see cancellation letters from their health insurers due to ObamaCare: Despite President Obama's assurances that "if you like your health plan, you will be able to keep your health plan," an NBC investigation finds that many of these policies are ineligible under the Affordable Care Act's standards—and the administration has known that for years. ObamaCare regulations "grandfathered in" policies that were up and running by March 23, 2010, but regulations added since state that changes to things like the deductible, co-pay, or benefits make a policy ineligible for that grandfathering. Translation: Up to 75% of the 14 million Americans who buy insurance individually may have their insurance cancelled.

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