(AP Photo/Mark Lennihan)

PPACA’s new auto-renewal feature is a “mixed bag” for carriers, Moody’s said Thursday, but it’s likely to have a negative effect on carriers who are just beginning to participate in the exchanges.

The new feature is mostly good news for carriers that were able to enroll a sizable number of individuals this year. But it’s bad news for carriers that were planning to participate in the exchange market for the first time in 2015, or were planning to “gain significant membership with either more competitive pricing or expanding their participation on the exchanges,” Moody’s said in a new report.

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