Brief-Time period, Restricted Length Insurance coverage Closing Rule: Concerns for States

On March 28, 2024, the U.S. Departments of Well being and Human Providers (HHS), Labor, and Treasury (the “tri-agencies”) launched a final regulation that updates the definition of short-term, restricted period insurance coverage (STLDI) and requires shopper disclosures for STLDI and hospital and stuck indemnity insurance policies. These adjustments are designed to assist customers extra clearly distinguish the variations between STLDI/fastened indemnity insurance policies and complete medical insurance protection that should adjust to shopper protections underneath the Reasonably priced Care Act (ACA) and different federal legal guidelines. State departments of insurance coverage are the first businesses accountable for oversight and enforcement of the brand new STLDI definition and see necessities, and current state legal guidelines that battle with the brand new federal requirements are preempted. In a current Expert Perspective for the State Health & Value Strategies venture, CHIR’s Sabrina Corlette discusses the implications of the rule for state insurance coverage regulators.

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