Important Changes Coming to Short Term Medical Plans

04-16-2024

The Biden administration has announced that, beginning Sept. 1, 2024, health insurance carriers may only offer short-term health plans in 90-day increments. You may continue to enroll clients in 182-day and 364-day plans through Aug. 31, 2024, but those plans will no longer be offered beginning Sept. 1.

Under this new rule, consumers who need coverage longer than 90 days may purchase subsequent 90-day policies, but they may not purchase those policies from the same carrier within a 12-month period.

If you have clients who are currently enrolled in short-term plans that will expire after Sept. 1, they may also choose to enroll in an Individual ACA plan for year-round coverage. The Individual ACA open enrollment period begins Nov. 1, 2024, for coverage beginning Jan. 1, 2025. BUA offers a variety of affordable on- and off-exchange plans.

Please contact BUA for more information on this rule, or our short-term or ACA plan options.