OKLAHOMA CITY, Nov. 14, 2013 /PRNewswire/ -- The number of health insurance policies canceled in Oklahoma as a result of the Affordable Care Act (ACA) has been minimized due to the efforts of Oklahoma Insurance Commissioner John D. Doak.
"Here in Oklahoma, my office has always focused on the consumer," said Doak. "We recognized the possibility of cancellations early on and worked with the state's largest health insurance companies to lessen the consumer impact. That collaboration led to our approval of their requests to modify policy renewal dates, which allowed a majority of Oklahoma policyholders to keep their existing coverage through 2014."
Doak said Thursday that Oklahoma's insurance market is secure, but President Obama's administrative fix to the ACA could devastate insurance markets in some states. The warning comes after President Obama announced that he would allow insurance companies to continue to offer existing policies that don't meet ACA standards for one year.
Thursday's decision doesn't require insurers to extend existing plans, but it does allow them to offer an additional year of coverage. Commissioner Doak has pledged to continue to work with insurance companies on consumer-focused solutions to Obamacare problems.
"After yet another failed initiative, President Obama is just passing the buck," said Doak. "How can the federal government make this decision without offering any guidance to the state insurance departments or the insurance carriers? Cancellation notices have already gone out. Rates and plans have already been approved. How is this supposed to work? There are a lot of unanswered questions right now. This is what you get when you pass a bill you haven't read."
Oklahomans with health insurance questions can call the Oklahoma Insurance Department's Consumer Assistance Division at 1-800-522-0071.
About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
For more information contact:
Kelly Collins (405) 522-0683
SOURCE Oklahoma Insurance Department