Although Mr. Obama has declared a continuation of his policy that would allow Americans to keep their pre-“Obamacare” health insurance, some insurance companies have decided not to follow his instructions. They are sticking to the requirements of the Patients Protection and Affordable Care Act.
Now that the full impact of “Obamacare” is being felt, the insurance companies are not all willing to “go along” with the political changes in the law coming from the White House. Some would prefer to stick with the law that was passed by congress.
Many people who have health insurance policies that were first effective between March 23, 2010 and December 31, 2013 will find that their health insurance plans are being discontinued.
If you have recently gotten a letter, telling you that you are required to select an Affordable Care Act compliant policy this year, it is probably no mistake. The cancellation letters that people are getting are required by many state laws.
Companies that are discontinuing their plans are asking their customers to use a Special Election Period to change to a qualified plan.
One insurance company, in Texas, is using the SEP regulations to allow their customers to put off adjusting to a new plan until December 31 and still have coverage as of January 1. This sounds like a wonderful option and it is, if you elect to use the same insurance company for 2015.
However, if you elect to change insurance companies, or it is your first time to enroll under “Obamacare,” you will need to complete the process by December 15 or risk being uninsured in January.
If you live in Texas, and wish to speak with an insurance professional, so that you can know all your options, click the banner below.