Hoosier insurance agency studying Obama proposal
November 14, 2013 6:14PM
Updated: November 14, 2013 10:48PM
INDIANAPOLIS (AP) — A top Indiana insurance official says a state legal team is reviewing the details of President Barack Obama’s announcement that Americans should be allowed to renew individual health coverage plans now set for cancellation under the federal health care law.
Chief Deputy Insurance Commissioner Logan Harrison says the Department of Insurance doesn’t yet know whether state regulators have the legal authority to approve reversals of policy cancellations if Indiana residents request them. He says an agency legal team is closely studying Obama’s proposal.
Harrison also says policy cancellation reversals may not even be practical. He says it’s a time-consuming process in that takes about a month to file, approve and transfer an insurance policy to the appropriate authorities.