How new short-term health plan rules could affect employees

Posted by Emily Kubis on Fri, Aug 24, 2018 @ 06:08

New rules could create more options for employees

New rules from the Trump administration will expand the reach of short-term insurance plans, which could result in additional options for consumers, including employees.

The new rules extend the duration of short-term health plans from three months to 364 days, and would also allow the plans to be renewed. These regulations make short-term plans more like other types of insurance.

While these plans are generally cheaper than other types of coverage, they do not cover as many services as traditional health plans, such as preventive care or prescriptions.

Still, many anticipate that consumers looking for lower-cost alternatives may forgo comprehensive coverage and elect these plans, especially as the individual mandate penalty no longer applies next year.

Why does this matter to employers? In a few circumstances, employees could choose these new options instead of workplace options. Here are a few scenarios where this could apply.

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Tags: group plan, group benefits, small group market, offer health insurance, short term plan, short-term health plan, short-term health insurance, brokers

New rules limit short-term health plans

Posted by Emily Kubis on Fri, Jul 01, 2016 @ 09:07

Federal regulations restrict length of short-term policies

The Department of Health and Human Services has released new regulations restricting the sale of short-term plans.

Short-term medical coverage is an alternative to comprehensive health insurance. It is usually significantly cheaper than full coverage, but it also lacks many of the benefits found in permanent health plans.

The new rules limit the length of short-term policies from one year to less than three months, and consumers will not be allowed to renew the plans.

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Tags: health insurance, short term plan, short-term health plan

I lost my job. What should I do about health insurance?

Posted by Avery Brandes on Tue, Mar 17, 2015 @ 05:03

Reader Q+A

I just lost my job. I know I should be hearing about COBRA soon, but I've also heard it's expensive (especially when you are unemployed!) Are there other options? What should I do about health insurance?

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Tags: COBRA, unemployment, short-term health plan, exchange

3 easy ways to get healthcare outside of Open Enrollment

Posted by Ryan McCostlin on Mon, Sep 29, 2014 @ 05:09

How to get the care you need before November

The Affordable Care Act set aside certain times of the year, known as Open Enrollment, when individuals can sign up for health insurance. For 2015, Open Enrollment is November 15th through February 15th.

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Tags: open enrollment, qualifying event, short-term health plan

4 signs a short-term health plan is right for you

Posted by Ruthie Dean on Wed, Jun 25, 2014 @ 05:06

Protect yourself from unnecessary risk 

As the name implies, short term medical coverage lasts for a limited period of time. This type of coverage can be a great option. Typically, these plans last from one to six months and are designed to fill temporary gaps in coverage

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Tags: Individual health insurance, short-term health plan

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