President Barack Obama announced Thursday a "fix" for the millions of Americans who have lost their health insurance coverage due to the Affordable Care Act -- a fix could “destabilize the market," according to America's Health Insurance Plans (AHIP).
“Making sure consumers have secure, affordable coverage is health plans' top priority. The only reason consumers are getting notices about their current coverage changing is because the ACA requires all policies to cover a broad range of benefits that go beyond what many people choose to purchase today," AHIP president and CEO Karen Ignagni said in a statement.
The president announced a one-year fix that would allow 2013 insurance plans "to be grandfathered in" so long as insurance companies inform consumers they might have a better deal from the Affordable Care Act exchanges, TheBlaze reported.
But AHIP doesn't think this plan will work.
“Changing the rules after health plans have already met the requirements of the law could destabilize the market and result in higher premiums for consumers. Premiums have already been set for next year based on an assumption of when consumers will be transitioning to the new marketplace,” the statement reads.
“If now fewer younger and healthier people choose to purchase coverage in the exchange, premiums will increase and there will be fewer choices for consumers. Additional steps must be taken to stabilize the marketplace and mitigate the adverse impact on consumers,” it adds.
AHIP is one of the insurance industry’s leading lobbying groups.
See more reactions to Obama's health care "fix" on TheBlaze Blog.
Follow Becket Adams (@BecketAdams) on Twitter