An article from the New York Times anticipates some of the challenges the ACA may face in its second year.
This year, President Obama plans to increase the number of people enrolled by five million in addition to renewing the coverage for the 8 million individuals who already receive insurance through ACA. Those who choose to renew their plan will only have three months to choose a new policy, instead of the originally planned six months.
While renewing one’s plan will be straightforward, volatility in the price of insurance rates may change how much people pay for their insurance plan—some may see their insurance rate go down, but many others could see an increase in how much they pay.
The article reports, “30 carriers have requested entrance into the marketplaces for 2015 with 60% more plans are being offered.” It is likely many who are already covered will shop around for other insurance policies during the renewal period.
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