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Medigap Policies Face New Federal Nondiscrimination Rule
- Thread starter Yagents
- Start date
I may have to take someone off ignore to see what's going on
Bureaucrats, who are unelected and unaccountable, have arbitrarily decided to write new regulations that will allow CMS to apply "non-discrimination" rules on ALL forms of health insurance, including lines of coverage that do not receive government funding.
All this in the name of #EQUITY . . .
Once implemented, CMS will have full regulatory discretion over . . .
Medicare supplement plans
Hospital indemnity
Cancer insurance
Critical illness
Long term care insurance
Disability insurance
Immediate annuity
Hearing aid insurance
Prescription drug plans
Health insurance plans are currently approved and regulated at the state level. For now, the federal government lacks explicit authority over benefits or premiums.
Health insurance plans can currently be priced according to age, gender, location, health, marital status, covered benefits and more.
With these new reg's, carriers will be prohibited from using any of the above factors to price health insurance products. This means "uniform pricing" regardless of age, gender, location . . . everyone will pay the same rate in the name of EQUITY
Carriers will be required to employ "non-discriminatory" pricing. All applicants will pay the same rate.
These new reg's will adversely impact the most vulnerable population, making it impossible to secure insurance for some of the most expensive health care items and procedures.
10,000 people turning 65 every day will be impacted if this new regulation is imposed.
This is not just about #killingmedicare it is forever condemning seniors to imprisonment in a world where many will no longer be able to afford health care.
Too many agents lack the ability to view the world at a macro level, but when their livelihood is negatively impacted it may be too late to salvage specific markets.
All this in the name of #EQUITY . . .
Once implemented, CMS will have full regulatory discretion over . . .
Medicare supplement plans
Hospital indemnity
Cancer insurance
Critical illness
Long term care insurance
Disability insurance
Immediate annuity
Hearing aid insurance
Prescription drug plans
Health insurance plans are currently approved and regulated at the state level. For now, the federal government lacks explicit authority over benefits or premiums.
Health insurance plans can currently be priced according to age, gender, location, health, marital status, covered benefits and more.
With these new reg's, carriers will be prohibited from using any of the above factors to price health insurance products. This means "uniform pricing" regardless of age, gender, location . . . everyone will pay the same rate in the name of EQUITY
Carriers will be required to employ "non-discriminatory" pricing. All applicants will pay the same rate.
These new reg's will adversely impact the most vulnerable population, making it impossible to secure insurance for some of the most expensive health care items and procedures.
10,000 people turning 65 every day will be impacted if this new regulation is imposed.
This is not just about #killingmedicare it is forever condemning seniors to imprisonment in a world where many will no longer be able to afford health care.
Too many agents lack the ability to view the world at a macro level, but when their livelihood is negatively impacted it may be too late to salvage specific markets.
- Thread starter
- #134
Do u have link to article?
@Yagents there are 2 links to the article in this thread.
Post #1 and #116
The new HHS final rule implements section 1557 of the Affordable Care Act. The section prohibits discrimination on the basis of race, color, national origin, sex, age or disability at health programs that receive federal funding.
Medicare supplement insurance policies, or Medigap policies, are state-regulated health insurance products that help 14 million consumers cover deductibles, co-payments and coinsurance charged by original Medicare. In the past, HHS has excluded Medigap policies and other products “excepted” from typical federal benefits regulations, such as hospital indemnity insurance, from most ACA-related regulations.
In the introduction to the new regulations, HHS officials say section 1557 applies to all forms of health insurance, including Medigap policies and excepted benefits policies.
Post #1 and #116
The new HHS final rule implements section 1557 of the Affordable Care Act. The section prohibits discrimination on the basis of race, color, national origin, sex, age or disability at health programs that receive federal funding.
Medicare supplement insurance policies, or Medigap policies, are state-regulated health insurance products that help 14 million consumers cover deductibles, co-payments and coinsurance charged by original Medicare. In the past, HHS has excluded Medigap policies and other products “excepted” from typical federal benefits regulations, such as hospital indemnity insurance, from most ACA-related regulations.
In the introduction to the new regulations, HHS officials say section 1557 applies to all forms of health insurance, including Medigap policies and excepted benefits policies.
If this is the actual impact of the regulation then lawsuits will prevail from the state attorneys generals
Think maybe you need to hone your reading skills. He did not mention medigap in his post.
OM, medigap, now you're just splitting hairs
Disclaimer . . .
Allison Bell also wrote extensively about Obamacare in 2010 while holding the position of senior editor @ LifeHealthPro. While extolling the virtues of how what would become known as Obamacare, she offered her opinion about how consumers would have more choices, premiums would not increase, more carriers would enter the market and more . . .
Instead, consumers had fewer choices, premiums increased dramatically and 90% of carriers left the under 65 health insurance market by 2014.
She often missed the mark on Obamacare so there is no guarantee her summation of reg 1557 is any more accurate than her other forecasts.
Allison Bell also wrote extensively about Obamacare in 2010 while holding the position of senior editor @ LifeHealthPro. While extolling the virtues of how what would become known as Obamacare, she offered her opinion about how consumers would have more choices, premiums would not increase, more carriers would enter the market and more . . .
Instead, consumers had fewer choices, premiums increased dramatically and 90% of carriers left the under 65 health insurance market by 2014.
She often missed the mark on Obamacare so there is no guarantee her summation of reg 1557 is any more accurate than her other forecasts.
Not about Allison Bell, but many carriers have left the small group market as well. Obamacare has destroyed the indy and small group market, and if the same rules are now being placed on Med Supp, that market is toast as well.
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