A few days back the President of US has made few announcements regarding health insurance policy. President Trump has signed an executive order that aims to increase competition by promoting access to association health plans, short-term limited duration insurance products, and health reimbursement arrangements. It’s not possible to change instantly; hence the president has provided 60 to 120 days to some government agencies to draft regulations for the implementation of new policies.
Experts disagree about whether and how those plans could be executed via regulation, so the possible effects of those policies could not be predicted. Since association health insurance plans and short-term insurance products are not required for ACA patient protections, and they could appeal to younger, healthier people who seek skimpier, less expensive coverage, which could lead to rising costs for many people who require comprehensive coverage.
The Trump administration also planned to cease the cost-sharing reduction (CSR) payments to health insurance companies that subsidize out-of-pocket costs for the impecunious population. Plans in some states have increased the insurance payments with the expectation of the CSR payments discontinuing, but consumers would face a significant risk is that health insurance company would affect market stability in next years. Almost 15 states and the District of Columbia have already filed the case to ensure that the payments continue, so the effects of those changes also remained unclear.
The combined effect of those policies adds further uncertainty to the health insurance market, where insurers and people are preparing to enroll in next health insurance plan that would open up on November 1. These actions also enhance the pressure for Congress to pass bipartisan legislation to prevent the drop out of health insurance markets.
The Endocrine Society would make a review of those regulations to implement the executive order and potential legislation in Congress concerning health insurance markets. Society would continue to facilitate the access to comprehensive, quality coverage for patients and would provide up to date information regarding the effect of those changes becomes available.