- Oct 23, 2012
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Yesterday, at long last, President Trump signed an executive order to create a consumer freedom option from Obamacare, which will help millions of uninsured people get coverage and will lower health insurance costs for millions of other Americans.
Obamacare is now optional
EXCERPT:
The article also debunks the liberal claim that short-term policies will drain long-term policies and hurt existing risk pools.
Obamacare is now optional
EXCERPT:
At long last, the Trump administration has created a “freedom option” for people suffering under Obamacare. A final rulemaking issued Wednesday reverses an Obama-era regulation that exposed the sick to medical underwriting. The new rule will expand consumer protections for the sick, cover up to two million uninsured people, reduce premiums for millions more, protect conscience rights, and make Obamacare’s costs more transparent. . . .
Hoping to force those consumers into Obamacare plans, the Obama administration sabotaged short-term plans by stripping them of crucial consumer protections. It cut the maximum plan term from 12 months to three months, and forbade issuers from offering “renewal guarantees” that allow the sick to continue purchasing short-term policies at healthy-person rates. State insurance regulators protested that these restrictions literally stripped sick patients of their coverage.
Wednesday's rule reinstates and even expands the consumer protections Obama curtailed. It allows short-term plans to last 12 months, and allows insurers to offer them with renewal guarantees. . . .
The benefits of Wednesday’s announcement are substantial. Various organizations, including some that oppose the new rule, project it will cover one million to 2.3 million previously uninsured Americans. Projections by Medicare’s chief actuary indicate it will reduce premiums for millions more by an average of 30 percent.
Hoping to force those consumers into Obamacare plans, the Obama administration sabotaged short-term plans by stripping them of crucial consumer protections. It cut the maximum plan term from 12 months to three months, and forbade issuers from offering “renewal guarantees” that allow the sick to continue purchasing short-term policies at healthy-person rates. State insurance regulators protested that these restrictions literally stripped sick patients of their coverage.
Wednesday's rule reinstates and even expands the consumer protections Obama curtailed. It allows short-term plans to last 12 months, and allows insurers to offer them with renewal guarantees. . . .
The benefits of Wednesday’s announcement are substantial. Various organizations, including some that oppose the new rule, project it will cover one million to 2.3 million previously uninsured Americans. Projections by Medicare’s chief actuary indicate it will reduce premiums for millions more by an average of 30 percent.
The article also debunks the liberal claim that short-term policies will drain long-term policies and hurt existing risk pools.
