White House: Canceled Health Plans May be Extended
In a reversal of healthcare policy, President Obama has announced that health plans may continue to cover current policy holders in 2014.
President Obama announced Thursday that health insurers may extend insurance coverage to current policy holders next year.
Under the "transitional policy, health insurance issuers may choose to continue coverage that would otherwise be terminated or cancelled, and affected individuals and small businesses may choose to re-enroll in such coverage," reads a letter to insurance commissioners from the Centers for Medicare & Medicare Services.
The move was in response to the cancellation or termination of individual and small business policies that would have been out of compliance with the Patient Protection and Affordable Care Act as of January 1, 2014.
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