washington dc – Under new rules proposed by the Biden administration’s Department of Health and Human Services, access to affordable insurance options for Americans will be limited to short-term, limited-term insurance that provides low-cost medical coverage to millions. STLDI) plans will be severely restricted. American. The proposed rule would reverse the Trump administration’s rule to expand health care options for Americans.
House Ways and Means Committee Chairman Jason Smith (MO-08) In response to the Biden administration’s attempt to curtail affordable medical insurance, it released the following statement:
“Affordable insurance options for many Americans are currently under attack from the Biden administration. This Biden new rule means that short-term, time-limited insurance coverage is available to 1.5 million Americans, and the annual cost is nearly 60 percent more affordable than the lowest-cost Obamacare plan. Imposing new restrictions on short-term plans will stifle competition, drive up costs, limit the number of low-premium options available, and potentially , which many Americans are now enrolled in, would completely deprive them of the coverage they could afford.
“Americans, not Washington bureaucrats, should decide which health insurance is best for themselves and their families. Just last month, the House of Representatives voted to give Americans more flexibility and choice in health insurance, giving small businesses and workers looking for affordable options. We passed a series of bills to support the .These policies would lower prices and make health care more accessible to the American public, not increase Washington’s mandate.”
Background of short-term and fixed-term insurance:
- STLDI coverage costs significantly less than the Obamacare plan, making it an attractive option for those priced in the Obamacare market.
- In October 2016, the Obama administration limited the duration of the STLDI policy to three months, with no offer to renew it, because it wanted more Americans to comply with the costly Affordable Care Act (ACA). ) had no other reason than to squeeze into the market.
- In October 2018, the Trump administration extended the coverage period to a maximum of 364 days and added the option to renew coverage for a total of up to three years.
- Estimates from the Centers for Medicare and Medicaid Services, the bipartisan Congressional Budget Office, and even the left-leaning Urban Institute show that the spread of STLDI plans will result in a net reduction in the number of uninsured Americans. ing.
