Gov. Dennis Daugaard says South Dakota will allow insurers to renew existing insurance plans for individuals and small groups, regardless of whether the plans comply with the provisions of the nation's new health care law.
Daugaard says the decision will allow insurers to renew existing "non-compliant" insurance plans on or before Oct. 1, 2016, for individuals and for groups with 51 to 100 employees.
The State Division of Insurance estimates that the move will affect more than 83,000 people and will save South Dakotans more than $70 million over the next two years.
Daugaard says the federal Affordable Care Act is forcing millions of Americans to change health insurance plans, and in some cases it adds expensive and unnecessary new coverages.