Has ObamaCare cancelled your policy?

[KeithE]

Has ObamaCare caused your health insurance provider to give notice that your policy will be cancelled.

[Tim Bonney]

[William Thornton]

GuideStone was grandfathered in.

[Sandy]

Actually, I should say no, ObamaCare did not cancel my insurance policy. The insurance company did. We had a group policy with an HRA of which we have only spent about a third in each of the last three years. What that means is that most of the people in our group didn't spend enough on their medical care to meet the deductible, so we appear as a relatively healthy group. The nature of the insurance company being what it is, they were apparently irked that our HRA came in below their company average. They would like to have us pay the difference in premiums to them, and not have the HRA. Then the broker told us that if we didn't accept their 9% increase and the "early sign up offer," they would raise the rate 35% and we'd just be stuck. We declined. The next day, we signed with a company that provided almost identical coverage for a premium that is about 5% less, with an HRA option, and guess what? Our doctors are all in their system too. The deductible drops from $1,000 to $500 and the co pays on medication are about the same.

Needless to say, I enjoyed being the one who got to make the phone call to tell our previous company's broker that he had just lost a $250,000 contract.