Government delays crucial step for Obamacare

|By:, SA News Editor

The Department of Health & Human Services (HHS) has reportedly delayed the signing of final agreements with insurance plans that are to be sold on health insurance exchanges starting on October 1.

The HHS intends to sign the plans - which are a crucial part of Obamacare - in mid-September rather than from September 5-9, as previously intended. The reasons for the delay aren't clear.

The HHS says it's "on track to open" the marketplaces on time on October 1, although the delay raises doubts about whether that's the case.

"Having everything ready on October 1 is not a critical issue," says an administration official who worked on Obamacare. "What matters to people is January 1, which is when the coverage is supposed to start. If that were delayed, it would be a substantive setback.

Related tickers: AET, UNH, HNT, CI, WLP, UAM, HUM, MOH, CNC, CVH, MGLN