President Joe Biden just released his “Bidenomics” policy agenda, which he claims will “lower healthcare costs.” Among his first orders of business? Effectively banning some of the most affordable health plans on the market.
On July 7, the Departments of Health and Human Services, Labor, and Treasury published a proposed rule that would severely curb the utility of short-term, limited duration health insurance. The rule, which is open to public comment for 60 days, would set a maximum term of three months for the policies, with an option for a one-month extension.
Right now, under rules promulgated by the Trump administration, people in many states can buy short-term plans that last up to 364 days and can be renewed for up to three years. Millions of Americans have signed up for short-term plans as an alternative to the expensive policies on sale through Obamacare’s exchanges.