Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance > Health Insurance

Maryland to allow some non-PPACA policy renewals

X
Your article was successfully shared with the contacts you provided.

BALTIMORE (AP) — Maryland’s insurance commissioner says individual policies that don’t comply with the Patient Protection and Affordable Care Act (PPACA) can be extended through the end of next year.

Insurance Commissioner Therese Goldsmith said in a memo to insurers Tuesday that insurers can renew such policies for 2014 as long as the renewals take effect before Jan. 1.

However, Maryland law does not currently allow such policies to be renewed after Jan. 1 or to extend into 2015.

President Barack Obama announced last week that states can let policies that fail to meet PPACA standards stay in effect in the coming year. States can let insurers renew non-compliant policies as late as Oct. 1, 2014.

About 73,000 Marylanders have been on track to lose policies that fail to meet PPACA standards. It’s not clear how many will have the option to renew those policies.

See also:


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.