Posted on 11/05/2013 7:28:41 PM PST by God luvs America
The Department of Financial Services is concerned that certain small employer groups may have elected to renew health insurance coverage in 2013 that would otherwise not renew until 2014 in order to avoid the requirements of the Affordable Care Act (ACA) that take effect on January 1, 2014. Health insurance producers are hereby reminded that in accordance with the New York State Insurance Law insurers and insurance producers are not permitted to renew a small group policy which provides hospital, surgical or medical expense coverage that renews on or after January 1, 2014, but before July 1, 2014, prior to the policy's annual renewal date for the sole purpose of evading the requirements of the ACA and regulations promulgated thereunder. Health insurance producers that steer small employer groups toward early renewal of coverage for the sole purpose of avoiding the requirements of the ACA may be in violation of the Insurance Law. Likewise, insurers who early renew coverage for small groups for the sole purpose of avoiding the requirements of the ACA may also be in violation of the Insurance Law. An isolated, inadvertent renewal date change that was not made for the sole purpose of evading the requirements of the ACA shall not be deemed a violation.
I can’t see why. NY is being used as an example on how health care costs will drop by up to 40%.
They could have thought long term and spent more time and money defeating Obamacare in the first place, but NOOOOOOOOO they couldn't do that because they were too busy keeping their companies going in a bad economy.
I realize it's tough, but companies shouldn't be looking for short term fixes. They should be busing all of their employees to the White House and declaring a sit down strike until Obamacare is repealed.
“An isolated, inadvertent renewal date change that was not made for the sole purpose of evading the requirements of the ACA shall not be deemed a violation.”
Lol, yeah, that’s not ambiguous. “It wasn’t on purpose.” See you in court!
For a lot of small businesses the kind of premium increases, higher deductibles, and reduced benefits that the Obamacare policies have will be simply unacceptable.
Since the employer penalty has been put off for a year, the insurance companies could see a precipitous fall off of business next year.
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