Obama grants health reform extension to small business
Yesterday, President Obama stated that those health plans that were cancelled due to health care reform would be granted a one-year extension. This change is significant because it not only applies to individuals but also small businesses. Numerous sections of the Affordable Care Act that were previously not allowed have been suspended including the usage of certain rating factors.
More guidance is necessary from the federal and state level in order for employers and individuals to take the next steps to remain in compliance. William Gallagher Associates is monitoring the impact of the President’s announcement and awaiting clarification from local insurance carriers on how it will affect our clients.