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NY insurers say 'no thanks' to Obamacare reprieve

David b. Caruso, Associated Press

NEW YORK (AP) -- New Yorkers switching health plans because their policies didn't comply with the Affordable Care Act probably won't be offered a chance to put the process on hold.

President Obama announced this week that insurers in some states may be allowed to keep offering noncompliant plans for another year.

But New York insurers said Friday that resurrecting policies being phased out Dec. 31 would be a nightmare.

Industry officials say they'd have to rush a reworked rate structure through a regulatory process that normally takes months.

It might also mean getting legislative approval.

Plus, it's unclear how many New Yorkers would want their old plans back.

Insurers say most of the people being forced to switch are either seeing prices drop, or getting better coverage at a comparable rate.