A recent announcement by the Obama administration has many people wondering if they can keep their current health insurance coverage — along with their current premiums and benefits — for another two years.
The short answer is – it’s too soon to say.
We have been watching this closely, since this change could potentially have substantial impact, particularly in the individual health insurance market.
At least two things must happen before you could be allowed to keep your current coverage:
- The state Bureau of Insurance must approve the extension.
- The insurance carriers must agree to delay implementation of new plans and platforms.
We will continue to follow this in the coming months, but it could take that long to see how it actually plays out.
If you have already switched health insurance plans for 2014
If you have already changed from your old plan to a new plan that complies with the Affordable Care Act (ACA), there will likely be no way to go back. The same holds true if you switched to an ACA-compliant plan with a subsidy.
Get help from Virginia Medical Plans
Again, it will be a few months before we know the impact in each state. We will be watching Virginia, Maryland, and DC and will keep our clients updated through posts on this site and other communications.
If you have not yet gotten coverage for 2014, do not delay. The deadline stands at March 31, 2014.
Call or email us right away! 800-867-0800 or [email protected].
We appreciate your patience as we continue to manage a very high volume of calls and emails!