Friday, February 24, 2017

We Called It - Grandma Lives

It's almost as if we have a crystal ball. More like it was just that obvious.

Two weeks ago I posted on transitional relief for policies owned before Obamacare went into effect. Under the Obama regime CMS granted two extensions allowing people and small businesses to keep their insurance plans they owned prior to 2014. While it was a reprieve for insurers to insulate current customers from some of the laws craziest provisions, the rule stated these plans were not allowed to extend beyond December 31, 2017.

Well, as we predicted, the Trump administration has decided to continue the Obama tradition. Yesterday CMS issued a new bulletin allowing transitional plans to continue through December 31, 2018.

Back to gazing into the crystal ball. With the extension going through next year I'm going to make a few more predictions for the upcoming year:

  • Repealing Obamacare will take much longer than conservatives want.
  • Very few significant rules will change.
  • More insurers will drop out of the individual market.
  • Government will eventually make risk corridor payments.
  • The individual marketplace will see big rate increases again.

While I can't guarantee any of these points will come to fruition, I'm confident that one thing is certain, since Obamacare passed nothing involving health insurance has been predictable.
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