The cancellation of health insurance policies for five million Americans who buy coverage in the individual market has sparked a political firestorm. Vulnerable Democrats are scrambling to find a “fix” that would allow them to fulfill their promise that people could keep their policies. This is nothing compared to what will happen next year, when up to 100 million individuals could lose the insurance they receive from their small business employers.
Small businesses who offer their employees insurance were able to renew these policies late this year. This will allow them to offer the policies through 2014. The following year, in 2015, however, these policies will no longer be compliant with the mandated coverage and benefits under ObamaCare. Small businesses will either have to find much more expensive policies that meet the ObamaCare mandates or cancel their policies and direct their employees into the insurance exchanges.
The Administration anticipates that one-half to two-thirds of small businesses would have to cancel policies, according to an analysis by the American Enterprise Institute. Up to 100 million small and large insurance policies could be cancelled next year.
In a nightmare scenario for Democrats, these cancellation notices would go out to employees in October, just ahead of the November midterms. I can’t imagine the GOP having a more effective get-out-the-vote program than that.
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