Sacramento, CA — Some Blue Cross Blue Shield policyholders will be covered for a little longer. California’s Insurance Commissioner has reached an agreement with the company to delay its cancellation of more than 115,000 individual policies under the Federal Affordable Care Act.
Policyholders will be allowed to keep those lower priced policies through the first three months of 2014 due to the agreement announced by Commissioner Dave Jones today. Jones had objected to Blue Shield of California Life and Health Insurance Company plan to cancel individual and family health insurance policies on December 31 which is only 90 days’ notice. Jones argued the law required the company to give six months.
The delay could cost customers more for their annual deductibles, lost tax credits and cost-sharing subsidies. Those individual policies will run out March 31st.