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Understanding short-term limited duration health insurance

Series Title(s):
Issue brief (Henry J. Kaiser Family Foundation)
Author(s):
Pollitz, Karen, author
Long, Michelle, author
Semanskee, Ashley, author
Kamal, Rabah, author
Contributor(s):
Henry J. Kaiser Family Foundation, issuing body.
Publication:
San Francisco, CA : Henry J. Kaiser Family Foundation, April 2018
Language(s):
English
Format:
Text
Subject(s):
Insurance, Health -- organization & administration
Health Insurance Exchanges
Insurance Benefits
Insurance Coverage
State Government
Humans
United States
United States.
Genre(s):
Technical Report
Abstract:
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. Late last year, Congress repealed the Affordable Care Act's individual mandate penalty, the requirement that individuals have minimum essential health coverage or face a tax penalty. Starting in 2019, the tax penalty will be reduced to $0. It is possible this change could lead more consumers to consider purchasing short-term policies. In addition, late last year, President Trump issued an executive order directing the Secretary of Health and Human Services to take steps to expand the availability of short-term health insurance policies, and a proposed regulation to increase the maximum coverage term under such policies was published in February. This brief provides background information on short-term policies and how they differ from ACA-compliant health plans.
Copyright:
Reproduced with permission of the copyright holder. Further use of the material is subject to CC BY license. (More information)
Extent:
1 online resource (1 PDF file (9 pages)).
NLM Unique ID:
101740246 (See catalog record)
Series Title(s):
Issue brief (Henry J. Kaiser Family Foundation)
Author(s):
Pollitz, Karen, author
Long, Michelle, author
Semanskee, Ashley, author
Kamal, Rabah, author
Contributor(s):
Henry J. Kaiser Family Foundation, issuing body.
Publication:
San Francisco, CA : Henry J. Kaiser Family Foundation, April 2018
Language(s):
English
Format:
Text
Subject(s):
Insurance, Health -- organization & administration
Health Insurance Exchanges
Insurance Benefits
Insurance Coverage
State Government
Humans
United States
United States.
Genre(s):
Technical Report
Abstract:
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. Late last year, Congress repealed the Affordable Care Act's individual mandate penalty, the requirement that individuals have minimum essential health coverage or face a tax penalty. Starting in 2019, the tax penalty will be reduced to $0. It is possible this change could lead more consumers to consider purchasing short-term policies. In addition, late last year, President Trump issued an executive order directing the Secretary of Health and Human Services to take steps to expand the availability of short-term health insurance policies, and a proposed regulation to increase the maximum coverage term under such policies was published in February. This brief provides background information on short-term policies and how they differ from ACA-compliant health plans.
Copyright:
Reproduced with permission of the copyright holder. Further use of the material is subject to CC BY license. (More information)
Extent:
1 online resource (1 PDF file (9 pages)).
NLM Unique ID:
101740246 (See catalog record)