Special Broker Update - Ohio
ODI to Work with Insurance Carriers to Allow Ohioans to Keep Their Current Non-Grandfathered Plans
In response to an announcement by President Obama, the Ohio Department of Insurance (ODI) stated it will work with insurance companies to reissue current non-grandfathered plans for the individual and small group markets if they choose to do so. However, when making its statement, ODI also reiterated its concerns that reissuing these plans will "add even more uncertainty and complexity to an insurance market already in chaos" and may "accelerate premium increases for many consumers and small businesses...."
Like ODI, Medical Mutual supports allowing Ohioans to keep the healthcare plans they have. In fact, Medical Mutual is the only major carrier in Ohio that has allowed both individual policyholders and small group health plans to maintain their grandfathered status as permitted by the Affordable Care Act (ACA). In addition, we have also allowed non-grandfathered plans to renew early, thereby keeping their existing plans for another year.
We are still evaluating the direction of the Company and whether we will renew non ACA-compliant plans during 2014. As we weigh our options and the possible impacts of this change in direction, our decision will be based on what we believe is best for both our policyholders and our Company.
We have been working hard since the law's passage in 2010 and spent millions of dollars to prepare for the Affordable Care Act. As things stand right now, we are ready for the law's full implementation.
Click hereto download a copy of AHIP's statement in response to President Obama's announcement.
Click hereto download a copy of ODI's statement.