President Obama's health-insurance fix not such a fix

|By:, SA News Editor

President Barack Obama might have said that consumers will be allowed to keep canceled health-insurance policies for one more year, but at least five states - including New York and Washington - won't let such plans be reinstated, as they believe it would harm their exchanges.

Many carriers are also not allowing their customers to extend their old policies, due to time constraints and other obstacles. And those firms that may reverse the cancellations have said that premiums could rise.

Of the major players, Cigna (CI) could reinstate policies, while WellPoint (WLP) is analyzing the situation.

More on Obamacare.

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