I watched President Obama talk today about administrative remedies that his administration is going to make so that he can make good on his promise of "if I (oops, I mean you) like your insurance plan, you can keep your insurance plan, period."
Either Mr. Obama knows nothing about how insurance companies do their business, or, he knows all too well...
Insurance regulation falls within the purview of state government, since it is not an enumerated power of the United States Constitution. This means that the insurance companies have to re-apply to the state insurance boards where they sell products, to every state where they sell products, and ask for approval to sell the old products. And most likely, these will not be under the same rates. I have never seen this process take shorter than months (having been in the insurance industry).
But, Mr. Obama has done his part. Blame for losing your plan can now be placed on either the state insurance commissioners or the insurance companies if they decided not to re-instate products for which cannot be sold to new customers (a big waste of time and money), or both.
Problem solved and promise kept!
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