SEC. 102. PROTECTING THE CHOICE TO KEEP CURRENT COVERAGE.
(a) Grandfathered Health Insurance Coverage Defined- Subject to the succeeding provisions of this section, for purposes of establishing acceptable coverage under this division, the term `grandfathered health insurance coverage’ means individual health insurance coverage that is offered and in force and effect before the first day of Y1 if the following conditions are met:
(1) LIMITATION ON NEW ENROLLMENT-
(A) IN GENERAL- Except as provided in this paragraph, the individual health insurance issuer offering such coverage does not enroll any individual in such coverage if the first effective date of coverage is on or after the first day of Y1. [Y1 = first year of ObamaCare]
(2) LIMITATION ON CHANGES IN TERMS OR CONDITIONS- Subject to paragraph (3) and except as required by law, the issuer does not change any of its terms or conditions, including benefits and cost-sharing, from those in effect as of the day before the first day of Y1.
Your existing private plan is banned from accepting new members. And it is banned from making any changes to the plan.
Such plans, by design, will die out, and quickly.
When Obama announces that you can 'keep your existing plan' he is technically correct. But as a practical matter such plans will no longer be viable.
...health insurers may only offer individual coverage that meets insurance market reform standards...
So what the heck does this mean? Whose reform? What standards? This is crazy. This is writing nonsense into law. This has amazingly vague wording - especially for a law that affects millions of people, a good percentage of the economy, and the stability of the healthcare system.
I deal with government red tape in healthcare in my job and the potential for misuse and abuse in this legislation is stunning. Enough. Democrats - when you are in a hole, stop digging. Your frantic efforts to pass this junk to meet Obama’s egotistical timetable will cost you your next election.