The stumbling rollout of the Patient Protection and Affordable Care Act just hit another hurdle: Widespread reports the law is forcing millions nationwide to lose their insurance plans.
NBC News sounded the alarm this week when it reported more than 7 million people will lose their coverage as a result of PPACA’s new standards, coupled with normal market turnover.
David Smith, vice president of health and welfare benefits at North Carolina-based Ebenconcepts, says the reports are overhyped.
First of all, he said, “some carriers aren’t canceling policies because of the Affordable Care Act; they’re canceling policies because they want to cancel policies,” he said.
“One of the most important promises made by President Obama … was that Americans who were satisfied with their health plans could keep them,” Sen. Ron Johnson, R-Wis., said in a statement. “That promise has been broken.”
Ramsay says the reports about the cancellation notices are still alarming.