Short-Term Health Insurance: Extended Duration and Flexibility for Small Businesses.
This law redefines short-term health insurance plans, allowing them to last up to three years, including renewals. The goal is to provide citizens and small businesses with more affordable and flexible options to cover temporary gaps in coverage, such as during job transitions. Individuals gain the choice to accept or decline the renewability of their short-term policy upon application.
Key points
The maximum duration for short-term limited duration insurance (including renewals) is extended to 3 years.
Individuals purchasing short-term insurance can choose whether their policy will be automatically renewable, offering greater control over the contract.
The changes aim to assist small businesses in providing more flexible and lower-cost insurance options for their employees.
Status:
Introduced
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