Regulators struggling to enact provisions of Affordable Care Act
Insurance regulators in Florida are having a hard time complying with the Affordable Care Act. Late last week, regulators approached a legislative committee concerning the matter, informing lawmakers that they face a range of complex issues that inhibit them from making progress. Regulators cite a multitude of legal requirements and filings coming from the state’s health insurers as major factors in prohibiting their ability to implement key provisions of the Affordable Care Act.
Legislative direction thought by state’s regulators
Regulators are now seeking legislative direction on the issue, as the state is facing looming deadlines concerning many of the provisions that it has yet to enact. Beginning in the spring, insurance companies will be filing for the approval they need to be considered compliant with the Affordable Care Act. Many of the state’s insurers have already made the changes necessary to be considered compliant with the health care law, but must receive approval from the state before their compliance can be made official.
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Politics play a role in the struggle of regulators
Much of the issue resides in the ongoing political conflict that surrounds the Affordable Care Act. The state’s Democrats have been supportive of the federal health care law, pushing for legislation that would make it easier for the state to become compliant therein. Florida Republicans have derailed many of these legislations, however, because of their concern that the health care law will be detrimental to the state and the nation as a whole. Some politicians have also barred regulators from taking steps to enact provision associated with the Affordable Care Act.
Unintended consequences may come from state’s insurers
The issues being faced by the state’s insurance regulators are not likely to be resolved until the spring session of the Legislature. While the state has prepared itself to face whatever consequences come its way due to its opposition of the Affordable Care Act, Florida may face unintended consequences from the health insurance industry. Without receiving approval from state regulators, insurers will not be considered compliant with the federal law, meaning that they will be put at risk of facing fines from the federal government. This could lead to significant problems for the state’s health insurance market, if legislators do not find a solution to the problem.