Pres. Obama: Commissioner Doak says “Obama’s Fix is another failure.”
UPDATE 5:17 p.m.
Commissioner Doak says “Obama’s Fix is another failure.”
The number of health insurance policies canceled in Oklahoma as result of the Affordable Care Act (ACA) has been mimimized due to the efforts of Oklahoma Insurance Commissioner John D. Doak.
“Here in Oklahoma, my office has always focused on the consumer,” said Doak. “We recognized the possibility of cancellations early on and worked with the state’s largest health insurance companies to lessen the consumer impact. That collaboration led to our approval of their requests to modify policy renewal dates, which allowed a majority of Oklahoma policyholders to keep their existing coverage through 2014.”
Doak said Thursday that Oklahoma’s insurance market is secure, but President Obama’s administrative fix to the ACA could devastate insurance markets in some states.
The warning comes after President Obama announced that he would allow insurance companies to continue to offer existing policies that don’t meet ACA standards for one year.
President Obama said canceled insurance policies can be renewed for one year if the insurance company offers it, Thursday.
The move comes in response to the growing anger over canceled policies, despite the president’s earlier statements that anyone who liked their current health plan would be able to keep it moving forward.
Insurers can continue the plans for 2014 on two conditions; they have to tell people what their plans don’t cover and they have to tell people they have the option of going onto the health insurance exchanges to buy new plans with federal government subsidies and perhaps even to go onto Medicaid.
“This is something I deeply regret because it’s scary getting a cancellation notice,” Obama said at a news conference. “It’s on me. Those who got cancellation notices do deserve better and they received an apology from me but they deserve more than words.”
One main goal of Obamacare was to get rid of what the White House has called the worst abuses of the insurance industry; caps on coverage, policies that charged women three to five times what a similar man was charged, policies that didn’t pay for cancer screening.
Some of the policies that have been canceled were very inexpensive which is part of the reason for the outrage among those whose policies were canceled.
But insurance and health industry experts said it’s because they were so bare-bones, the companies wouldn’t have paid for much if they were ever needed.
The White House keeps stressing that the new rules level the playing field a little bit but offer most people much more in terms of coverage than what they had before.
However, Pres. Obama said the “healthcare fix won’t solve every plan for every person.”
“We fumbled the roll out on this healthcare law,” Pres. Obama said.
WASHINGTON – President Obama’s health care policy fix will be administrative not legislative and is only for people who received expiration notices, CNN is reporting.
It will in part call for insurance policies to be renewed for existing policy-holders with insurance in the individual market for those who got cancel notices.
They would get one-year extensions.
Also, insurance companies will be required to notify policyholders of alternative coverage and what benefits they would be losing by keeping their existing plan.