COMMISSIONER OF INSURANCE MIKE CHANEY ISSUES STATEMENT REGARDING
AFFORDABLE CARE ACT ANNOUNCEMENT

“The President announced today that the federal government would delay enforcement of the Affordable Care Act’s market reforms in 2014 for plans that are currently in effect.

In Mississippi we took steps several months ago to ensure that these reforms would have initial minimal impact on policyholders in our state. We allowed and encouraged the carriers to extend their plan years and coverage periods until December, 2014, allowing our citizens to keep their existing coverage with minimum rate increases and with more choices.

We do not expect that the President’s actions announced today will have any major impact on our state. However, it is quite possible that in the long run these reforms will have a major impact on the solvency of companies and might be a major cost to the industry, thus driving up prices over time. We will continue to closely follow any further developments to ensure we protect the interests of Mississippians.”

MID Commissioner Mike Chaney
11/14/13