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Short-Term Health Plans Limited To Three Months?

The government is considering placing limits on short-term (temporary) health insurance plans. This could go into effect on January 1, 2017 and would limit the enrollment in short-term plans to around 3 months maximum with no renewals.  From CNBC...

Federal officials Wednesday moved to improve the financial outlook of Obamacare insurance plans by calling for limits on increasingly popular short-term health plans that are siphoning off healthier customers from coverage sold both on government marketplaces and outside those exchanges.
The government's move would limit short-term health coverage for an individual to less than three months each year and bar renewal, as opposed to the almost 12-month term that some of those non-Obamacare-compliant plans are offering, along with a chance to renew.
The proposed rule, one of several moves announced Wednesday, is designed to nudge those healthier customers now in short-term plans into Obamacare plans sold on and outside of government-run exchanges, and improve their so-called risk pool, by balancing out less-healthy customers.
I believe we may see some guidance on this in October from the government.  

Comments

  1. They are looking to avoid adverse selection

    NAIC http://www.naic.org/store/free/ASE-OP.pdf

    CMS.Gov https://www.cms.gov/Newsroom/MediaReleaseDatabase/Fact-sheets/2016-Fact-sheets-items/2016-06-08.html

    Wikipedia https://en.wikipedia.org/wiki/Adverse_selection#Insurance

    ReplyDelete

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