September 22, 2014

If You Like Your Plan, You Still Can't Keep It

Robert Graboyes

Senior Research Fellow
Summary

There’s a bizarre reason why millions of Americans saw their health insurance plans cancelled in 2013 – and as explained in a new video put out by the Mercatus Center at George Mason University, millions more will lose their plans in years to come.

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There’s a bizarre reason why millions of Americans saw their health insurance plans cancelled in 2013 – and as explained in a new video put out by the Mercatus Center at George Mason University, millions more will lose their plans in years to come. 

Insurance coverage for Americans will remain in permanent turmoil because the Affordable Care Act requires all plans to fit within four cookie-cutter designs called "metallic tiers." (The tiers – bronze, silver, gold and platinum – refer to the percentage of medical expenses a particular plan pays.) The video also notes that families may have to change plans repeatedly because, as circumstances change, a plan that fits within a tier one year may not fit in any tier a later year.

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