Biden is announcing a new rule to protect consumers who purchase short-term health insurance plans
A live TV news station covering breaking news and traffic for Colorado Springs, Pueblo, and Southern Colorado with a strong investigative team President Joe Biden is announcing a new rule to protect consumers who purchase short-term health insurance plans, which critics argue amount to junk. The rule will limit short insurance plans to be renewed for a maximum of four months, up from the three years allowed under Republican President Donald Trump. It will also require clear explanations of the services they cover and costs. The White House says this rule is part of the president's strategy to reduce costs for consumers.
Published : 4 weeks ago by in Politics Health Finance
President Joe Biden is announcing new steps to protect consumers who buy short-term health insurance plans that critics say amount to junk. A new rule finalized by the Democratic president’s administration will limit short-term health insurance to just three months. And the plans can only be renewed for a maximum of four months, instead of up to the three years allowed under Biden’s predecessor, Republican President Donald Trump. The Biden administration is also requiring short-term plans to provide consumers with clear explanations of the services they cover and how much. The White House says the rule is part of the president’s interest in reducing costs for consumers.
Topics: Insurance