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Transition Policy for Canceled Health Plans

Provided by GCG Financial Inc.

The Affordable Care Act (ACA) includes several key reforms that create new coverage standards for health insurance policies, beginning in 2014. Late in 2013, millions of Americans received notices informing them that their plans would be canceled because they did not comply with the ACA’s reforms. President Obama received criticism that these cancellations went against his assurances that if consumers had a plan that they liked, they could keep it.

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This article is provided by GCG Financial, LLC. It is to be used for informational purposes only and is not intended to replace the advice of an insurance professional. Visit us at © 2011-2014 Zywave, Inc. All rights reserved. This information is for general informational purposes only. While we have attempted to provide current, accurate and clearly expressed information, this information is provided “as is” and GCG makes no representations or warranties regarding its accuracy or completeness. The information provided should not be construed as legal or tax advice or as a recommendation of any kind. Users should seek professional advice from their own attorneys and tax and benefit plan advisors with respect to their individual circumstances and needs.