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White House Announces Transition Policy for Canceled Health Plans

Provided by GCG Financial, LLC

On Nov. 14, 2013, President Obama announced a policy that may allow individuals and small businesses whose coverage is being canceled to keep their coverage for an additional year. The Affordable Care Act (ACA) includes key reforms that create new coverage standards for health insurance policies, beginning in 2014. For example, effective for 2014 plan years, the ACA imposes new modified community rating standards and requires individual and small group policies to cover a comprehensive set of benefits.

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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 https://gcgfinancial.com. © 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.

 

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