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Citing a lack of consumer options and the rising cost of insurance, the Departments of Labor and Health and Human Services (HHS) issued a proposed rule reversing changes made to short-term medical (STM) by the Obama administration.
Under Obama, STM plans were limited to a maximum duration of up to three months. There will be a 60-day comment period before the new rule can go into place.
David Kettig, President of Independence Holding Company (IHC), commented today:
“IHC is gratified that the Trump Administration has validated the importance of short-term medical (STM) as an affordable alternative for many Americans who cannot afford expensive, high-deductible ACA plans. Many of our customers have asked us why they were forced to reapply for another short-term medical policy after only three months instead of maintaining it for up to 364 days as was permitted in many states prior to the action by the Obama Administration.
"IHC is a market leader in providing a suite of affordable product options, which includes STM, Fusion (a first of its kind combination of STM and hospital indemnity), and a new short-term plan which we are launching in April in select states that will redefine the market for affordable health insurance. IHC is delighted to continue to be a market leader for these products through www.HealtheDeals.com, our key distribution partners, and independent producers throughout the country.”
David Kettig and Jan Dubauskas, General Counsel and Chief Operations Officer at IHC Carrier Solutions will be meeting with HHS to discuss the proposed rule and offer our comments on Thursday, February 22 in Washington, D.C. |
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About The IHC Group
Independence Holding Company (NYSE: IHC) is a holding company that is principally engaged in underwriting, administering and/or distributing group and individual specialty benefit products, including disability, supplemental health, pet, and group life insurance through its subsidiaries since 1980. The IHC Group owns three insurance companies (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company), and IHC Specialty Benefits, Inc., a technology-driven insurance sales and marketing company that creates value for insurance producers, carriers and consumers (both individuals and small businesses) through a suite of proprietary tools and products (including ACA plans and small group medical stop-loss). All products are placed with highly rated carriers.
“IHC” and “The IHC Group” are the brand names for plans, products and services provided by one or more of the subsidiaries and affiliate member companies of The IHC Group (“IHC Entities”). Plans, products and services are solely and only provided by one or more IHC Entities specified on the plan, product or service contract, not The IHC Group. Not all plans, products and services are available in each state. |
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