CMS announced some long anticipated new rules surrounding of Short Term Limited Duration health plans.
Today’s rule provides consumers with more affordable options for health coverage. They will now have the ability to purchase short-term, limited-duration insurance policies that:
- Are less than 12 months;
- Contain important language to help them understand the coverage they are getting; and
- May be renewed for up to 36 months.
Short Term Limited Duration plans are a good fit for many people in certain situations. We work with three major carriers offering Short Term products in many states, including UnitedHealthcare, National General and IHC. Medica will be releasing short term policies for sale in some states starting later this month.