Insurance commissioner says Oklahoma market secure

By: From Wire Reports
By: From Wire Reports

OKLAHOMA CITY (AP) - Oklahoma Insurance Commissioner John Doak says the number of health insurance policies canceled in the state due to Affordable Care Act guidelines has been minimal.

Doak made the comments Thursday after President Obama announced changes to temporarily allow insurers to keep offering plans that otherwise would have been canceled under the federal health care law.

Doak says his office recognized the possibility of cancellations early and worked with the state's largest health insurance companies to lessen the consumer impact. The collaboration led to the agency's approval of insurer requests to modify policy renewal dates, allowing most Oklahoma policyholders to keep their existing coverage through 2014.

Doak says Oklahoma's insurance market is secure but that the administrative fix to the health care overhaul law could devastate insurance markets in some states.

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