Biden Proposes Rule to Restrict Short-Term Plans

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from Health Care News,

The Biden administration wants to limit short-term, limited-duration insurance (STLDI) to four months with no option to renew.

The proposed rule, announced on July 7, would restore limits imposed by the Obama administration in 2014. President Donald Trump removed those limits by executive order, to allow plans to last one year with two years of renewal.

Congress failed to pass legislation making the expansion permanent, setting the stage for Biden’s reversal of the reform. After a 60-day comment period, Biden’s plan would take effect on January 1, 2024.
Lower Cost, Broader Networks

STLDI is a type of health insurance designed to fill gaps in coverage. The plans are a fraction of the cost of Obamacare plans and offer broader coverage networks. Consumers can purchase the plans at any time during the year and can choose from a variety of deductibles and co-pays.

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