Our Betters in DC© have released their final regs on Short Term Medical plans.
On the only piece that truly matters, they fall short (again):
"Such coverage can now cover an initial period of less than 12 months, and, taking into account any extensions, a maximum duration of no longer than 36 months in total"
The good news is that they've lifted the 3 month max, the bad is that they've left a potentially huge gap in that 365th day.
Still, one should avoid letting the perfect be the enemy of the good, and this is at least a step in the right direction.
As to why they've made this change, well, let's just say that ObamaPlan signups have been ... disappointing:
"[T]he number of people enrolled in the individual market without subsidies declined by an alarming 20 percent nationally in 2017 ... Many state markets experienced far more dramatic declines, with unsubsidized enrollment dropping by more than 40 percent in six states"
Ooops.
Now, it's important to remember that coverage ≠ care, and these plans have their own limitations, including exclusion of pre-existing conditions. But they are generally much more affordable, and offer much lower out-of-pocket options, than ACA-compliant policies.
Will be interesting to see how this plays out, and what impact it has on Open Enrollment v6.
[Hat Tip: HAFA]
On the only piece that truly matters, they fall short (again):
"Such coverage can now cover an initial period of less than 12 months, and, taking into account any extensions, a maximum duration of no longer than 36 months in total"
The good news is that they've lifted the 3 month max, the bad is that they've left a potentially huge gap in that 365th day.
Still, one should avoid letting the perfect be the enemy of the good, and this is at least a step in the right direction.
As to why they've made this change, well, let's just say that ObamaPlan signups have been ... disappointing:
"[T]he number of people enrolled in the individual market without subsidies declined by an alarming 20 percent nationally in 2017 ... Many state markets experienced far more dramatic declines, with unsubsidized enrollment dropping by more than 40 percent in six states"
Ooops.
Now, it's important to remember that coverage ≠ care, and these plans have their own limitations, including exclusion of pre-existing conditions. But they are generally much more affordable, and offer much lower out-of-pocket options, than ACA-compliant policies.
Will be interesting to see how this plays out, and what impact it has on Open Enrollment v6.
[Hat Tip: HAFA]
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