Insurers: 'Catastrophic' Healthcare Plans Change Will Cause 'Tremendous Instability' Staff
Posted: Dec 20, 2013 9:56 AM
Health insurers are responding with serious concern to the White House’s abrupt decision Thursday to allow millions of Americans whose health insurance policies have been cancelled to purchase catastrophic plans next year. Catastrophic health plans, which generally have lower premiums and benefits associated with a major or sudden illness, had been severely restricted under Obamacare in order to lure young, healthy people into the health insurance exchanges where they would pay higher premiums and ultimately fund the health care of older and less healthy individuals.