President Obama will meet with several insurance chiefs Friday afternoon, Politico reports.
The meeting comes after insurance companies issued statements expressing their concern with the president’s proposed fix for canceled health insurance plans — largely a political move to address his pledge that “If you like your health plan, you can keep your health plan.”
On Thursday, Obama announced that for one year, insurance companies do not have to stop offering plans that don’t comply with coverage requirements set down by the Affordable Care Act. For the millions of Americans who have received health plan cancellation notices, the president’s fix means that insurance companies and state insurance commissioners could change course and continue offering 2013 coverage in 2014.
Some state insurance commissioners — including Washington, D.C.’s Mike Kreidler — have already announced that they will not allow their residents to renew 2013 plans.
“I have serious concerns about how President Obama’s proposal would be implemented and, more significantly, its potential impact on the overall stability of our health insurance market,” Kreidler said in a press release.
Insurance companies also raised red flags about the proposed fix’s effect on the market, saying it could cause only sick people to enroll in coverage made newly available on the exchanges and hike premiums in 2015, thereby driving out healthy people.