Millions of American receive insurance cancellation notices

Millions of American receive insurance cancellation notices

Find out why they're losing their policy
GREEN BAY, Wis. (WFRV)--Millions of Americans could be forced to purchase a new insurance policy because their current plan doesn’t adhere to regulations under the Affordable Care Act.

About 14 million American received letters last week saying their current policy is being cancelled.

Under the Affordable Care Act, insurance policies must offer coverage for ten “essential” benefits; Those include benefits like maternity, prescription pills, and mental health treatment.

In Wisconsin, all people insured through HIRSP will be losing their current policy—that affects about 24,000 people.

HIRSP is  an insurance company that provides policies for people at “high risk” or have pre-existing conditions are losing their plan.

Those policies are expiring because people with pre-existing conditions can be insured through all insurance agencies now.

But many in that group are finding that their premiums are now much more expensive through the Marketplace.

“Many people right now are at their limit with what they can afford for insurance so now the prices are higher ad the law does offer premium credits for some people below a certain income level but for other people, they’re going to be paying much more,” said John Ulness, Co-Owner of Ulness Insurance in Appleton.

He says younger clients could see their rates go up as much as 3 times their current monthly premiums. And elderly clients could see a 20-30% jump, especially if they don’t qualify for subsides.

HIRSP clients will lose their coverage as of January 1st so they need to find a new plan and pay their first premium payment by December 15th in order to be covered after January 1st.

 



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