(Bloomberg) -- Allowing Americans more time to enroll for health coverage under Obamacare may raise premiums and cut into profits, insurers are telling members of Congress in a bid to stop such a move.
Extending the enrollment period would have a “destabilizing effect on insurance markets,” said Robert Zirkelbach, a spokesman for the Washington-based lobbyist group American’s Health Insurance Plans. Allowing younger, healthy Americans to sign up later, as they probably would, means less revenue for insurers counting on those premiums to help defray the cost of sicker customers, threatening industry profits.
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