Jul 10, 2018

ICYMI: Freedom Partners: New Health Insurance Rule Gives Americans More Choices, Better Options

Post by Freedom Partners

Freedom Partners Executive Vice President Nathan Nascimento  |  Investor’s Business Daily

Sky-high costs under the current health care system have squeezed small businesses and people who work for themselves. …

An estimated 15 million Americans — and their families — who are self-employed or work for a small business lack health care coverage. It’s not because they don’t want insurance. Rather, they don’t have a coverage option that fits both their needs and their ability to pay.

All that is about to change.

The Labor Department recently rolled out a new rule on association health plans (AHPs) that will allow small businesses and the self-employed to act within the same, flexible health care rules as a large business.

AHPs allow small businesses and the self-employed to band together and obtain a health plan as a group. AHPs had previously been allowed based on shared industry.

The Congressional Budget Office estimates that 4 million Americans, including 400,000 who would otherwise be uninsured, will join an AHP by 2023. Expanding choice this way encourages people to sign up for coverage.

While this rule may not represent sweeping reform, it is a step in the right direction.

The Trump administration should continue its progress by adding a final rule to allow for renewal of short-term, limited-duration plans. That’s prohibited under current rules.

That will bring America closer to the ultimate goal of delivering better health care coverage at lower prices for all.

Click HERE to read the full op-ed.