After considerable hand wringing from regulators and opposition groups, H.H.S. finally issued a final rule pertaining to the President’s executive action on August 3, 2018. This final rule makes two important regulatory changes. Both will become law on October 2, 2018. On that date, non-ACA Short Term health insurance plans will once again provide consistent uninterrupted health insurance coverage for up to 364 days. This is a very welcome change since our prior president reduced the amount of time consumers could own non-ACA Short Term health insurance plans to a maximum period of 90 days.
This action by former president Obama exposed consumers to the additional risk of not only facing up to four separate deductibles in one year but also facing the risk of not qualifying for a new 90 day policy due to a preexisting condition. This is true because non-ACA Short Term health insurance policies do not cover preexisting conditions nor do they cover other ACA mandated benefits such as drug rehab therapy and mental health parity. As such, they are much less expensive than ACA qualified health insurance plans and are very popular among the millions of Americans who do not qualify for health insurance subsidies. President Trump’s executive order also requires that these plans be renewable for a period of up to 3 years.
This is a step in the right direction.
But other than taking fraudsters to court, and allowing insurance plans to cross state lines, get the FedGov out of the healthcare business. Let the free market compete with individualized plans.
Health insurance? I live in Michigan. I just spent $1000.00 on 6 months basic auto insurance (PLPD-Property loss, property damage). Basically paying for a piece of paper that does nothing but enable me to drive. Got no points, accidents or tickets on my record. That’s why we have so many hit and run accidents in our state. People make first payment to get paperwork to purchase plates/tags and then drive rest of year with no insurance.
@DifferentTim – our insurance rates in Georgia skyrocketed with the number of illegals. (In LA 50% of accidents are hit and run because of uninsured illegals.)
I’d look into the increase of illegals in MI to see the coincidence of hit and run accident increases and insurance costs to explain why you have to pay $1,000 in one go.
Page Of Turner – Our increases started decades ago when Mich decided to go the no fault insurance route. That evolved into a catastrophic injury fund for drivers mandated by the state. This sets up unlimited lifetime benefits of medical coverage for serious injuries. Prior to this fund, insurance companies would cut benefits after a certain amount of payout leaving people with lifelong care injuries in the cold. Sounds great on paper but the unaffected now pay the bills. Its a fee set by the state that gets tacked on to all auto policies. The state refuses to release the amount that they hold in the fund. They probably want to skim off it so they leave us in the dark.
Thank you as always BFH for posting.
On the plus side, if I get a flat while riding my bike, AAA now allows me to use my road service. Guess they will send a large flatbed for my bike and take me home!
Every single IDIOT that says a derogatory thing about President Trump needs a baseball bat to the head and a MOAB stuck up their ass.
Setting aside the historic corruption and arrogant greed of ALL public servants, what aspect of America has NOT been weaponized and flipped on its head?!
Healthcare, Insurance, Taxation, Property ownership, Citizenship, Gender, Education, Science, Pensions, Energy, Race….
factually wrong is plausible and the preposterous must be humored. Theft and other felonies go UNPUNISHED while citizens fear they will be sued into homelessness because a homeless person died on their lawn.
But the DAILY drum beaten on all Media, by prominent ‘minds’ is that Trump is _________.
(fill in the blank: narcissist, idiot, abuser of women, white supremacist, boor…)
Because we were so on the right track before his election….. gaw!!!!!!!!!!!