Obamacare hasn't cancelled anyone's insurance; but some insurers have. Why? Because they can make more money by cancelling those plans and selling ACA compliant plans instead. That's right. It's a money maker for the insurers.
Thousands of consumers who were granted a reprieve to keep insurance plans that do not meet the federal health law’s standards are now learning those plans will be discontinued at year’s end, and they will have to choose a new, possibly more costly policy.
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One reason behind the switch is that insurers determined they can make more money selling plans that comply with the Affordable Care Act, often at higher premiums that may be subsidized by the government.
“They’re getting a lot more revenue, often for the same person,” said consultant Robert Laszewski, a former insurance executive.
Last year, similar cancellation letters sent to more than 2 million customers created a political firestorm for President Obama, who had promised that “if you like the plan you have, you can keep it.”
http://www.washingtonpost.com/business/economy/insurers-poised-to-cancel-health-plans-that-dont-comply-with-affordable-care-act/2014/10/01/31525c74-49b3-11e4-891d-713f052086a0_story.html
