Remember When 93 Million Health Care Plans Could Be Canceled?

Prior to the full implementation of Obamacare in 2014, Avik Roy estimated that 93 million health care plans could be cancelled due to the grandfather provision in Obamacare.  His analysis was not just political trash talk.  It was based on the Obama administration’s own report in the Federal Register. In the Federal Register of June 17, 2010, the Obama administration provided a mid-range estimate that 66 percent of small employer plans and 45 percent of large employer plans will relinquish their grandfather status by the end of 2013. Grandfathered plans are plans purchased before the passage of Obamacare that do not meet the standards required by Obamacare.  Individuals can keep these plans as long as the insurance company does not make any changes to the plan.  If the company does make changes, and the changes do not meet the Obamacare standards, the plan becomes illegal, and the individual is required to purchase an Obamacare qualified...(Read Full Article)