President Obama announced on Thursday a one-year extension for people who want to keep their health insurance plans that were deemed substandard by the Affordable Care Act. Republicans in Congress may vote as early as today on a measure that would make the change permanent.
This shift has the potential to impact insurance companies who need to recalibrate because of the changes.
“It’s going to be really hard for insurance companies to react positively to this,” says Dan Mendelson, CEO of Avalere Health, a company that does advising on health care business strategy. “It takes time to put together insurance product, and to try and throw something together in a one month timeframe is not something that’s usually done.”
To learn more about this story, click the audio player above.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.