Saturday, November 2, 2013

The Truth About Those Canceled Health Plans

There's been a lot of talk lately about people getting letters from their health insurance carriers canceling their policies because of Obamacare. What's really going on here?

Wait, Obama killed my health insurance? Oh %$@*, I'm uninsured now!

Not quite. First off, this affects a pretty small sliver of the U.S. population: the people who buy health insurance directly, rather than the 80 percent who get it from their jobs or a government program like Medicare or Medicaid, or the 15 percent who have no health insurance at all.

Estimates vary, but the Census Bureau says this figure is about 4 percent of Americans, which comes to about 11 million people. A lot of those folks are finding out that the health insurance plans they have this year aren't going to be sold anymore. How many? Hard to say, with reports ranging from a few hundred thousand to millions. (And their coverage isn't changing today; it's changing next year.)

MORE

No comments: