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La. Insurance Commissioner Weighs In On Obamacare Change

La. Insurance Commissioner Weighs In On Obamacare Change

Louisiana's insurance commissioner says President Obama's announcement Thursday that health insurance companies could continue to sell, for one year, policies that fall short of the standards in his health care law is no guarantee that they will.

Jim Donelon told WRNO's Denny Schaffer Friday he believes large insurers will go along with Obama and extend policies deemed substandard by the new law.

"For the most part, these companies are big, large companies that don't have to worry about their solvency," Donelon said.

But small insurers could run the risk of insolvency if they extend substandard policies, Donelon said.

As for the new health care law, the insurance commissioner says it's probably not in trouble politically.

"He's (Obama) got his veto pen at the ready for three more years, and so I think the program will be there for a minimum of three more years, and during that time who knows what will happen," Donelon said.

 

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