Many OK businesses set for 2014 health coverage
In the wake of thousands of canceled health insurance policies leading up to the new plan year when new coverage standards under the Affordable Care Act become effective, President Barack Obama recently announced transition relief aimed at helping individuals and small businesses from losing health coverage. Oklahoman business writer Paula Burkes examined how Oklahomans are being impacted by the health care reform policies and the president’s transition relief.
McAfee & Taft employee benefits attorney Brandon Long was interviewed for the article. He told Burke that he “isn’t sure how helpful the relief will be to the individuals and small businesses because it looks like insurance companies aren’t required to extend the coverage, and state insurance commissioners are not required to allow the extended coverage.”
Long also pointed out that mini-med plans that have been popular with individuals and small businesses, because of their lower costs, are still set to expire at the end of this year. Such plans carry annual caps on benefits and lifetime coverage limits which are now prohibited under new health care reform standards that take effect January 1.