Turns out - and you may want to sit down for this - he wasn't being truthful.
How do we know this?
Well, here's a screencap of a small group renewal that just hit my desk. These folks have had their plan for a number of years, and this is what it would cost to bring it into full compliance:
I'm no mathematician, but I'm thinking that a 200% increase doesn't meet that aforementioned promise.