Has The Affordable Care Act Helped Or Hurt Insurers?

Before the Affordable Care Act (ACA) was implemented in 2014, insurers raised concerns about their ability to provide healthcare coverage. Insurers had the option of turning down applicants with pre-existing conditions, with some charging higher premiums depending on an applicant’s health history. Now the ACA says health insurance companies can’t turn down applicants or charge higher premiums.

Thanks to a decree in the healthcare law stating individuals must obtain medical coverage or face a financial penalty, more people are able to get coverage. This element has raised a number of issues insurers are still trying to work out. In 2014, the individual market saw an almost 50 % enrollment increase for health insurance because of ACA. Carriers were facing concerns because they had limited details to go on in getting them prepared for new applicants. Insurers had concerns in three areas.

Read more here👇🏻👇🏻