Can Work Together as we go through the Implementation Phase to find out what is wrong with the program and if we can make some changes to fix it. Let us do it and let us do it in a bipartisan fashion. It is too big a program and too important to too many people to do that. Having said that it does appear that it is working. Let us not keep beating a dead horse. My beloved friend who gave us the beginning of our efforts today. Madame secretary, i see reports that consumers receiving plan cancellation notices from their Insurance Companies saying that plans are no longer available. Does the aca require Insurance Companies to discontinue the plans that people had when the law was passed, yes or no . Not when the law was passed. No, sir. Thats the grandfather clause. Thats because the plans existed prior to passage of the law are grandfathered in as you have said . Thats correct. So if an Insurance Company is no longer offering a certain plan, thats because that Insurance Company made a de
The decision to split the company was a right one. Well be able to maximize on the capital opportunity and in life solutions. So in a way, its a journey and this is the right time to take the decision to separate philips into two gross companies. Shares of adidas get a kick out of a report that they could be bought for 2. 2 billion. Youre watching Worldwide Exchange bringing you Business News from around the globe. And welcome to the show. It seems like a crazy week of volatility last week. One of the big factors is that weaker german data we had two weeks ago, and yet germany, the dax, ended last week in the green. Amazing. We had to take a step back with the markets in correction territory. Still down 10 from the recent highs despite the move to theup side last week. So still a lot of pain for the German Markets. Of course, and volatility across the board last week. The big question is what is going to happen in equity markets this week. Absolutely. On that note, do you think jer man
Unexpected medical expense. Never again will a woman have to pay twice as much as a man for the same insurance. That is why allowing insurers to continue offering deficient plans next year is such a bad policy. The law says that all plans except those that were grandfathered in 2010, must meet the new Consumer Protection standards. If we dont enforce this policy, Insurance Companies can continue offering flimsy coverage that disappears when people actually need it and no one should want that. It is understandable that there will be a focus today on what isnt working, but we must also remember what is working. The Health Insurance plans that are being offered in the exchanges are good plans. The premiums are much lower than expected. 60 of the uninsured individuals shopping in the new marketplaces will be able to get coverage for less than 100 per month. Half of the young adults will be able to get coverage for less than 50 per month. And since congress adopted the Affordable Care act,
Thank you. Gentle ladys time expired. Thank you, mr. Chairman for holding the hearing and thank you for being with us. Last week when the contractors built the system were here, i asked them all under oath if they had actually delivered the system they were contracted to build. And all four of them answered yes. I want to ask you, did the contractors deliver the system that you contracted them to build . I dont think i can accurately answer that question. What we know is weve a system that doesnt function properly. We definitely know that. As we fix things, well know more about what is broken along the way. And ill be able to so would someone in your office know someone oversaw the implementation and they said this is the product we contracted and paid hundreds of millions of dollars to build or wasnt. Does somebody have the ability to get that information . We can say that products tested individually verified individually. But clearly was an integrated system. And dont work well toge
Underwritten or excluded whatever medical condition they had in the first place. So these were typically oneyear contracts. If they use the plan because they got sick nor a car descent or a victim of Domestic Violence, sometimes they would be thrown off the plans or rates would go up . Yes. I think thats important to note, madam secretary. And im intrigued as well that my understanding is that last month hhs conducted an analysis that found that nearly six out of tun uninhere issed americans will pay 100 a month. Theyll have a plan if that is their choice. And that number would be even ier, would be better if more states chose the option of using federal funds to expand medicaid to cover the low income population . Thats just a marketplace snapshot. Those are people that will be in the marketplace. Madam secretary, i dont think i heard anyone from the other side of the aisle today, my republican colleagues, ask you how can Congress Work with you and support you in fixing this website a