YOU CAN KEEP YOUR NON-ACA PLAN 2 MORE YEARS!
For many this is excellent news, and may greatly help to control costs. Many have found that the new ACA – Affordable Care Act plans are more expensive than the insurance they have now, due to the fact they do not qualify for a subsidy.
Insurance companies are still processing this information with the state Division of Insurance and legal teams to determine how this affects their business processes. The Colorado Division of Insurance will determine if and which carriers do in fact extend their plans. In practice, the this change may have a limited impact as the extension is optional. It will be some time before we know what the renewals on these plan will be and how this decision will affect the final cost, but at least there is an option.
How does this latest change make you feel about the health insurance industry and the laws that govern it?