Moody's blasts proposed Obamacare changes
A leading credit rating agency is panning two proposed changes to ObamaCare's implementation as negative for health insurance companies. Moody's Investors Service said Thursday that requiring insures to expand their provider networks and allowing patients to keep non-compliant health plans for an additional two years could harm insurers and raise prices on the exchanges. The firm also characterized this week's second, partial delay of the employer mandate as frustrating and logistically complicated for the insurance industry. "Insurers have already begun to develop and sell small group compliant policies to employers," stated a credit outlook report released Thursday.
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