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Insurance Regulators Warn: ObamaCare Won’t Let You Keep What You Have
Health Law Will Limit Consumer Choice and Destabilize Private Insurance Market
The Democrats’ health care overhaul tasked the non-partisan experts at the National Association of Insurance Commissioners (NAIC) with developing important regulations that will influence how every private insurance plan operates. This week, the NAIC sent a letter to Secretary of Health and Human Services (HHS) warning that “we continue to have concerns about the potential for unintended consequences arising from” ObamaCare. Specifically, the NAIC cited the potential for “destabilized insurance markets where consumer choice is limited and the solvency of insurers is undermined.” The NAIC went on to note that over the next few years, “those who lose coverage may be unable to find or afford other coverage,” as a result of the law. So much for keeping what you have and like.
While the specific provision of concern to the NAIC does not go into effect until January 1, 2011, the Democrats' health care overhaul is already causing hundreds of thousands Americans to lose their current health insurance:
This should come as no surprise to Congressional Democrats given that the Obama Administration predicts that up to 7 in 10 Americans with employer-provided health insurance will lose their current health plan and 9 out of 10 seniors who have retiree drug coverage will lose it by 2016 as a result of ObamaCare.