On April 10, 2014 the Michigan Department of Insurance and Financial Services issued an order regarding the Affordable Care Act extended transitional policy. This order follows President Obama’s extension of the transitional policies to remain in effect and renew through 2016. Consumers in Michigan may now have the option to keep their old, non-ACA compliant plans for another 2 years.
How does this affect you? As of today, HAP is the only carrier, that we know of, to issue confirmation that they will allow small groups and individuals to keep their old plans with the possibility of small rate increases upon renewal. We are still waiting to hear from the rest of the carriers as to whether they will follow suit with HAP or move forward with cancelling non-ACA compliant plans at the end of 2014.
Stay tuned for updates as we get them!
