The ticking time bomb of employer and small group insurance plans

We've been hearing about the cancellations of policies being held by people participating in the indivudal insurance market. In reality, that market is relatively small - only about 5% or 15 million policies. But what about small group insurance plans, purchased mostly by small businesses? And the large group market plans? The White House has been saying that the overwhelming majority of people in those sectors of the market will get to keep their plans. Oh really? Forbes: Section 1251 of the Affordable Care Act contains what's called a "grandfather" provision that, in theory, allows people to keep their existing plans if they like them. But subsequent regulations from the Obama administration interpreted that provision so narrowly as to prevent most plans from gaining this protection. "The Departments' mid-range estimate is that 66 percent of small employer plans and 45 percent of large employer plans will relinquish their grandfather status by the end of 2013," wrote the...(Read Full Post)