Obamacare wipes out more than 1 million plans Cancellation notices from insurers continue to mount

Obamacare wipes out more than 1 million plans Cancellation notices from insurers continue to mount

Owners of individual health-insurance policies already have received more than 1 million cancellation notices, according to a compilation of news reports. But the pain likely won’t end there. Health-policy expert Bob Laszewski has concluded that about 16 million Americans will lose their current plans because of Obamacare. Laszewski explained that about 19 million Americans are in the individual health insurance market. “Because the Obama administration’s regulations on grandfathering existing plans were so stringent about 85 percent of those, 16 million, are not grandfathered and must comply with Obamacare at their next renewal,” he said.

The 16 million, he said, will receive letters from their carriers saying they are losing their current coverage and must re-enroll to avoid a break in coverage . “Most of these will be seeing some pretty big rate increases, he said. Blue Cross in New Jersey, alone, is dropping more than 800,000 customers due to Obamacare. In a letter earlier this month to customers who purchase insurance on the individual and small-employer markets, the insurance giant explained that their health-insurance plan would no longer exist next year because it does not cover all the essential benefits required by the Affordable Care Act.

Anthem Blue Cross and Blue Shield sent a letter telling customers that plans which don’t meet Obamacare’s requirements will be discontinued in 2014. 

“[I]t is irrefutable that the ACA is fatally flawed,” wrote Rubin. “If it is intended to make health care coverage available to those who do not have it, it does so only by jeopardizing the coverage earned by those who have it.” Rubin said that by 2018 the Fairfax County Water Authority expects to pay $13,450 to cover individual employees and $33,300 per employee family for coverage. It only makes sense, he concludes, to pay the fine rather than pay for health insurance. “[I]f we provide our workforce with no health care coverage, we merely pay the government $2,000 for each employee,” he wrote.

In a wrap-up, the Daily Caller found 10 states, including New Jersey, in which Obamacare will wipe out health plans.