Insurance commissioners raise concerns about healthcare fix with Obama

Through Roberta Rampton and Lewis Krauskopf WASHINGTON (Reuters) – State insurance coverage commissioners informed President Barack Obama on Wednesday that his effort to stem a wave of insurance coverage cancellations because of his signature healthcare law could lead to greater premiums. Obama met with representatives from the National Association of Insurance coverage Commissioners to discuss the "repair" he came up with remaining week to calm the uproar surrounding thousands and thousands of cancellation notices sent to holders of particular person medical insurance insurance policies now not felony below the healthcare law, referred to as Obamacare. Whereas taking accountability for the stricken rollout of his legislation and apologizing for the promises he made that were not being stored, Obama sought ultimate week to handle the issue of canceled plans by giving insurers the method to extend them With the aid of 12 months, even if they did not meet minimum requirements beneath the legislation. While individual state commissioners haven’t any criminal duty to go together with Obama's wishes, the White House transfer successfully put the onus on them for cancellations due to the administration's regulation.