Helping Patients Keep Their Plan
Millions of Americans who are self-employed or do not get insurance from their employer buy insurance for themselves on what’s called “the individual market.” Millions more who work in small businesses get their health coverage through the “small group market.”
Today, the ACA requires that these people buy only certain kinds of highly regulated insurance plans. Those plans do not make sense for many people, which is why 20 million Americans have chosen not to buy insurance and instead requested an exemption or paid the individual mandate penalty.
But since the ACA went into effect, HHS permitted people with noncompliant plans in the individual and small group markets to renew them. That policy was set to expire this year.
Following Secretary Price’s goal to provide Americans with as many coverage options as possible, on February 23, HHS announced that people will again be allowed to keep their pre-ACA plans if they like them.
This decision will help ensure lower premiums and real choices for millions of Americans, especially entrepreneurs, early retirees, and employees of small businesses.