Insurers: Obama offer on cancellations could destabilize market and raise premiums
J. Scott Applewhite, Associated Press
WASHINGTON — The health insurance industry says the president's offer to fend off millions of cancellations comes too late — and may raise premiums.
America's Health Insurance Plans is the main industry trade group. The group says members have already set premiums for next year based on the assumption that many people with current individual coverage will shift into the new markets created under the health care law.
Plans sold under the law offer broader benefits and stronger financial protections than many current individual market policies.
Karen Ignagni is president of the industry group. She says allowing people to keep plans that don't comply with the law could destabilize the market and lead to higher premiums.
That's because younger, healthier people might stay out of the new markets.
- 3 tips for traveling cheaply
- Sony hack adds to security pressure on companies
- Survey says parents spend $532.87 a month to...
- Constantly changing online prices stump shoppers
- Record-breaking holiday travel expected
- Gift Guide: Strong photo, video gear options
- Biggest mailing day of the year means protect...
- Chrysler to recall about 288K Ram pickup trucks
- NYC premiere of Rogen film 'The... 8
- Is brand loyalty the new religion? 6
- US consumer prices fall in November 4
- Insurers ease 'Obamacare' deadline 3
- Keystone pipeline to top Senate agenda... 3
- AP sources: NFL employees turn over... 3
- Sony hack adds to security pressure on... 3
- PacifiCorp to close Deer Creek Mine in... 3