On July 7, the Biden Administration published a proposed rule to roll back President Trump’s expansion of short-term health insurance plans. The Office of Management & Budget previously announced its approval of the proposed rule on “short‐term limited duration insurance” health plans (STLDI).
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The National Association of Insurance and Financial Advisors (NAIFA) is pleased with NCOIL’s adoption of the Short Term Limited Duration Insurance Model Act sponsored by IN Representative Martin Carbaugh. NAIFA has long reasoned that STLDI plans can ensure that consumers are able to maintain critical and temporary health insurance coverage especially in instances where a consumer lost his or her individual market or group policy and needs sufficient time to obtain a more comprehensive insurance plan. Also, in some health insurance markets where there are very few and cost prohibitive plans available for consumers, STDLI policies may offer consumers the only affordable, albeit temporary, option.