The people of Minnesota who need child-only health insurance policies are losing their only option. They can thank President Obama, Nancy Pelosi, Harry Reid and every Democrat that voted for Obamacare.
Twin Cities Pioneer Press reported:
Minnetonka-based Medica said Friday that it is no longer selling policies that cover individuals under the age of 19. The child-only market is a small sliver of the state’s individual insurance market and it serves parents who have employer-sponsored coverage for themselves but not for their children.
Last month, three other insurance companies in Minnesota said they were dropping out of the child-only market because of changes prompted by the federal health care overhaul that Congress passed earlier this year.
The new law prevents insurers from issuing new policies that exclude children based on pre-existing conditions. But the requirement has been controversial with insurance companies because they fear families will wait to buy health insurance until a child gets sick.
“Medica simply cannot take the financial risk of being the only health plan in this market to offer year-round guaranteed issue of minor-only policies,” said Dannette Coleman, a vice president with the insurer, in a statement Friday. “If the market conditions change in a manner that mitigates the risk of being the sole issuer of minor-only policies, we will gladly return to offering these policies.”
Not that this is a surprise. This is just the outcome the law was designed to produce.
The insurers indicated they would get back in the market of child-only policies if there are significant changes. Another good argument for complete repeal.
Remember this, and vote accordingly on November 2. Follow the first link for a list of incumbents who voted for this horrid legislation.