Tuesday, November 26, 2013
WASHINGTON -- President Obama's broken promise about people being able to keep their existing health insurance is much larger than we've been led to believe. Until now, attention has focused on the individual insurance market: people buying coverage for themselves and their families from insurance companies. Policies have been canceled because they don't comply with the Affordable Care Act (ACA). But the individual market is small, representing about 5 percent of the non-elderly population, according to the Kaiser Family Foundation. What's unappreciated is that cancellations, under today's law, will ultimately spread to the largest insurance market: employer-provided coverage.