A Recent federal ruling from the Department of Health and Human Services now allows a Short Term Major Medical Plan to be an affordable health insurance option.
Headquartered in Bedford Park, Illinois, United Security Health & Casualty’s (USH&C), Vice President/Chief Compliance Officer, Robert Dial began, “On August 3, 2018, the federal Department of Health and Human Services released a new rule regarding short term, limited duration health plans. The most notable part of this rule, which takes effect on October 2, 2018, is increasing the maximum duration of short term, limited duration health plans from 90 days to 364 days. States will still have the ability to regulate short term plans, so some states have opted to allow a six month maximum, as was the case in years past. The good news for healthy individual plan buyers, who are looking for an alternative to costly marketplace plans, is that they now have the ability to purchase a short term major medical health insurance plan (STMM) with an initial duration of nearly a year. ” ... |