OMB

This has been a long time coming, with lots of Sturm und Drang along the way, but it's finally here:

President Biden Announces New Landmark Rule to Protect Americans from Junk Health Insurance

• Latest action to deliver better health care and prevent consumers from getting ripped off

Today, the Biden-Harris Administration is taking a major step to crack down on junk health insurance for American families and consumers and deliver better health. As the President has said, people hate being played for suckers and the current practice of offering low-quality insurance that people pay into, but then provides no coverage when people need it, is a bait and switch. That’s why the Biden-Harris Administration is issuing a final rule that protects consumers from junk health insurance and makes sure Americans aren’t scammed into low-quality coverage that leaves consumers on the hook for thousands of dollars in medical bills or denies life-saving care right before treatment. The President is committed to building on the promise of the Affordable Care Act and its critical consumer protections that ensure meaningful coverage for people’s health care needs.

I last wrote about so-called "Short-Term, Limited Duration" healthcare policies back in July (aka STLDs, though "Short-Ass Plans" is my preference).

Once again, here's a refresher on what STLDs are via KFF:

Original story: 6/29/23:

I haven't written about #ShortAssPlans ("Short-Term, Limited Duration") healthcare policies since back in January, when it was announced that the Biden Administration would be announcing new regulations on them sometime in April 2023. Obviously that time has come and gone, but it looks like the Office of Management & Budget (OMB) is finally ready for the Centers for Medicare & Medicaid Services (CMS) to roll the new rule out:

It's been over a year and a half since I've paid much attention to #ShortAssPlans...officially "Short-Term, Limited Duration" healthcare policies.

As a reminder (via the Kaiser Family Foundation):

Short-term, limited duration (STLD) health insurance has long been offered to individuals through the non-group market and through associations. The product was designed for people who experience a temporary gap in health coverage.1 Unlike other products that are considered “limited benefit” or “excepted benefit” policies – such as cancer-only policies or hospital indemnity policies that pay a fixed dollar benefit per inpatient stay – short-term policies are generally considered to be “major medical” coverage; however, short-term policies are distinguished from other comprehensive major medical policies because they only provide coverage for a limited term, typically less than 365 days. Short-term policies are also characterized by other significant limitations, including the types of services covered, often with a dollar maximum.