I received a notice from my insurance company that it’s not going to offer the policy I had before the ACA requirements went into effect. Will I have to pay more for a new policy?
The Indiana Department of Insurance projects a 70-100% cost increase for individual health insurance for those individuals who have a "transitional" or "grandfathered" policy that is terminating in 2014 and are moving to an ACA compliant product . The cost increase is consistent with the projections made by the State's external actuaries in 2011 report. In March 2014, the Department of Insurance released Bulletin 205 instructing insurance companies on the options to renew or non-renew transitional policies. Additional information may be found here.