Well, I’m sure most people will be able to keep their healthcare, right? I mean, what’s a million or so people on those lower premium limited benefit plans? After all, most people get their health insurance through their workplace, right? Yeah, I’ll just keep doing that.
Under interim regulations, current employer-based coverage would not be grandfathered and hence subject to the health care laws’ consumer provisions if:
* The plan eliminates benefits related to diagnosis or treatment of a particular condition.
* The plan increases the percentage of a cost-sharing requirement (such as co-insurance) above the level at which it was on March 23, 2010.
* The plan increases the fixed amount of cost sharing such as deductibles or out-of-pocket limits by a total percentage measured from March 23, 2010, that is more than the sum of medical inflation plus 15 percentage points.
* The plan increases co-payments as a total percentage measured from March 23, 2010, that is more than the sum of medical inflation plus 15 percentage points or medical inflation plus $5.
* The employer’s share of the premium decreases more than 5 percentage points below what the share was on March 23, 2010.
According to the report, by 2013 51% of all employers — 66% of small employers (3-99 employees) and 45% of large employers — would have to relinquish current coverage. In a worst-case scenario, 69% of firms would lose their grandfathered status.
So, if you like your health insurance, and you are part of a lucky minority, you can keep it. Well, that’s basically what Obama said.