President Obama's decision to allow insurers to extend by one year health plans they had canceled for failing to meet the Affordable Care Act's requirements was a welcome admission that the law's rollout was botched, but it didn't go far enough to help small businesses, the head of the Retailers Association of Massachusetts said.
"We would hope the president's executive order would allow us to continue our policies for the next year and buy us some time and prevent, or at least delay, the double-digit premium increases due to the phasing out of state rating factors," said Jon Hurst, referring to the factors insurers use to determine the cost of a plan.
At a medical costs conference yesterday organized by the Massachusetts Association of Health Plans, Hurst said he is unaware of any of his group's members canceling policies, but the rating factor change, coupled with the new federal definition of a full-time employee as someone who works 30 hours instead of 35, is cause for concern that some employees will be moved below 30 hours and not offered insurance.
Lora Pellegrini, president of the Massachusetts Association of Health Plans, said Obama's one-year extension of canceled policies raises many questions.
"Even in plans that could be grandfathered, it required us to modify or cancel existing policies because the grandfathering regulations were fairly prescriptive, and those plans didn't fit into that," Pellegrini said. "The big question is if we were to continue to offer these plans, what rules apply? If it's the old rating rules, those were changed a few months ago by the Legislature to comply with the Affordable Care Act."
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