Fierce Healthcare March 28, 2024
The Biden administration is releasing new standards around “junk” insurance, the Department of Health and Human Services and Treasury Department announced Thursday.
The final rule will modify short-term, limited-duration insurance (STLDI) and independent, non-coordinated excepted benefits coverage. STLDI plans are not traditionally covered by the Affordable Care Act, but these plans help individuals transition from one type of coverage to another.
Now, these plans will be capped at a four month duration instead of three years. It will also mandate insurers to be more transparent with its offerings to consumers by including a consumer notice on all marketing, application and enrollment materials. A notice must be included on the first page of any policy, certificate or contract.
The feds hope...
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