November 15th, 2013

National Assoc. of Insurance Commissioners: “Pleased and surprised” at unanimity in concern over one year fix

Jim Donelon, Louisiana Insurance Commissioner and President of National Association of Insurance Commissioners (NAIC), told “New Day” Anchor Chris Cuomo that he was “pleased and surprised at the unanimity across the board in concern” about the timing of the President’s one year fix to the Affordable Care Act that will allow people to keep their insurance policies that no longer meet minimum standards. Donelon confirmed that he “disagrees” with Obamacare and is concerned with how the one year fix will affect the solvency of small insurance companies.

“The problem is you can’t change the rules at the last minute when the game’s about to start. And the rules have given benefits to lots of policyholders – guarantee issue, caps on coverage for older policyholders,” Donelon said. “It threatens the solvency of the system and it threatens to spike the cost to policyholders across the board. So, each state will have to make that determination for themselves. But at the NAIC level, we had two calls yesterday in the aftermath of the President’s announcement. And I was pleased and surprised at the unanimity that I found across the board in concern over what the President is proposing.”

“I disagree with the law. That’s a fact. I have many concerns about it,” he added.

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