The Obama Administration knew that millions of Americans would lose their insurance once Obamacare went into effect. This news is broken by shocker of shockers⊠NBC News:
Four sources deeply involved in the Affordable Care Act tell NBC News that 50 to 75 percent of the 14 million consumers who buy their insurance individually can expect to receive a âcancellationâ letter or the equivalent over the next year because their existing policies donât meet the standards mandated by the new health care law. One expert predicts that number could reach as high as 80 percent. And all say that many of those forced to buy pricier new policies will experience âsticker shock.â
None of this should come as a shock to the Obama administration. The law states that policies in effect as of March 23, 2010 will be âgrandfathered,â meaning consumers can keep those policies even though they donât meet requirements of the new health care law. But the Department of Health and Human Services then wrote regulations that narrowed that provision, by saying that if any part of a policy was significantly changed since that date — the deductible, co-pay, or benefits, for example — the policy would not be grandfathered.
Buried in Obamacare regulations from July 2010 is an estimate that because of normal turnover in the individual insurance market, â40 to 67 percentâ of customers will not be able to keep their policy. And because many policies will have been changed since the key date, âthe percentage of individual market policies losing grandfather status in a given year exceeds the 40 to 67 percent range.â
That means the administration knew that more than 40 to 67 percent of those in the individual market would not be able to keep their plans, even if they liked them.
Yet President Obama, who had promised in 2009, âif you like your health plan, you will be able to keep your health plan,â was still saying in 2012, âIf [you] already have health insurance, you will keep your health insurance.â
Well this is how the White House is spinning this news via Valarie Jarrettâs Twitter account:
FACT: Nothing in #Obamacare forces people out of their health plans. No change is required unless insurance companies change existing plans.
â Valerie Jarrett (@vj44) October 29, 2013
So it’s the insurance company’s fault if they change policies in order to comply with Obamacare! Fascinating.