On the SCC’s finding on continuation of existing health policies
Nov 21 2013
WASHINGTON – U.S. Sens. Mark R. Warner (D-VA) and Tim Kaine (D-VA) released this statement following the announcement by the Virginia State Corporation Commission’s Bureau of Insurance approving renewal of existing health insurance plans in the individual and small business markets, allowing policyholders to continue existing coverage through the end of 2014. In a letter to the SCC last week, Sens. Warner and Kaine urged state regulators to take action to help those Virginians who had concerns about the loss of their existing health coverage:
“This determination by the State Corporation Commission is welcome news to those Virginians who recently have seen their existing healthcare plans cancelled by insurance carriers,” Sens. Warner and Kaine said in a joint statement. “We strongly support the SCC’s decision encouraging insurers to provide the option of extending transitional coverage through the end of next year. This action will help smooth the transition to the new system. We appreciate the prompt analysis and decision by the Bureau of Insurance. We remain committed to working together to see that the implementation of the Affordable Care Act works more effectively for Virginia families, small businesses and employers."