STM

Posted March 13th, 2018 in Producers, Employers, Individuals
The Idaho Test – Last Thursday, the Centers for Medicare and Medicaid Services (CMS) shot down the state of Idaho’s plan to allow for the sale of health insurance plans which don’t comply with the Affordable Care Act (ACA). Idaho officials wanted less expensive plans to be available for purchase in their state, but these plans could use medical underwriting and wouldn’t have to cover all ten of the essential health benefits.
Posted February 27th, 2018 in Producers, Employers, Individuals
In October 2017, President Donald Trump issued an executive order instructing the Department of Health and Human Services (HHS), Department of Labor (DOL) and Department of Treasury (DOT) – collectively known as the “tri-agencies” – to consider proposing rules that would expand short-term, limited duration insurance, also known as short-term medical plans (STM plans). 
 
Posted June 13th, 2017 in Producers, Employers, Individuals
Under the Obama administration, the Department of Health and Human Services (HHS) issued regulatory guidance which shortened the maximum duration of Short-Term Medical (STM) insurance plans to less than 3 months (90 days). This was fully implemented as of April 1, 2017. 
 
Posted January 10th, 2017 in Producers, Employers, Individuals
Significant changes to short-term medical plans (STM plans) have been finalized for 2017. 
 
STM insurance plans with effective dates:
 
  • Prior to April 1, 2017, may be issued for longer periods of time so long as the length of coverage does not extend beyond December 31, 2017. 
  • On or after April 1, 2017, must be limited in duration to periods of less than three months, and that duration includes any renewed coverage.
 

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