Latest ACA Tweak Is Frustration, Not Disaster, For Insurers

Law360, New York (December 20, 2013, 6:44 PM EST) -- Health insurers are rightly alarmed by the Obama administration’s decision Thursday to let older Americans with canceled policies buy cheap, bare-bones plans geared toward younger consumers, but financial impacts will be softened by Affordable Care Act safeguards and the unavailability of subsidies, experts say.

By announcing the temporary exception, regulators were taking another stab at making amends with Americans who were wrongly told that the ACA would not cause their policies to be scrapped. Although President Barack Obama last month permitted one-year extensions of canceled plans,...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.