Illinois to let companies sell existing health insurance plans

Posted on:November 25, 2013 by HealthCentric | Categories: Health Insurance News

Chicago Tribune
By Peter Frost
Tribune staff reporter

Insurers in Illinois will be able to sell existing plans this year, getting a reprieve from changes that were to be part of the Affordable Care Act.

Heeding President Barack Obama’s call to allow insurers to extend canceled health insurance policies, Illinois regulators ruled Friday that insurance companies can renew existing plans that don’t meet new standards under the Affordable Care Act.

Policies in effect as of Oct. 1 in the state’s individual and small group market can be renewed for a year starting between Jan. 1 and Oct. 1, 2014, the state said in statement.

A link to the Department if Insurance’s statement is provided below: