CMS: STM Limited to 3 Months - No Renewal Allowed

[Yagents]

Also, there are questions as to the Obama Administration’s authority to regulate short-term policies on a federal level to this extent. Typically, the authority to regulate excepted benefits falls to the states and virtually all states have detailed laws and regulations both defining and governing the sale of limited-duration policies already. Moreover, the National Association of Insurance Commissioners (NAIC) is in the midst of overhauling model legislation and regulations on this very topic. Previous federal action to regulate short-term policies has been struck down by the courts, and a case on this topic is currently being appealed by the Obama Administration.

NAHU Washington Update - 06/10/2016

 

[AllenChicago]

Well 2 things...

When is this proposed rule set to be heard enacted. I missed that in the article.

Secondly, should it be enacted I can see the current marketing push by at least one carrier going up in smoke!

RE: https://www.cms.gov/Newsroom/MediaReleaseDatabase/Fact-sheets/2016-Fact-sheets-items/2016-06-08.html

I don't think this is a "rule", TKruger. It's a series of actions that HHS-CMS is going to take. No public feedback requested, or desired.

 

[Paradigm]

These are proposed changes proposed rules they are subject to comment periods of 60 days and the National Association of insurance commissioners and states in question would have to approve the new change in the rules

These products are not specifically covered by the ACA and are considered excepted benefits

 

[MBSC]

I don't think this is a "rule", TKruger. It's a series of actions that HHS-CMS is going to take. No public feedback requested, or desired.

Full text of the proposed rule is available here.

https://www.federalregister.gov/art...s-and-qualified-expatriates-excepted-benefits

A Proposed Rule by the Internal Revenue Service, the Employee Benefits Security Administration, and the Health and Human Services Department.

Action: Proposed Rule.

This document has a comment period that ends on 08/09/2016.

 

[Yagents]

It's a formality. When has a proposed rule not been enacted by this administration?

Funny. I have not gotten any s.t.m spam emails lately from carriers.

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IBD has an opinion that matches ours:

Obama Wants To Block All The Exits From ObamaCare | Stock News & Stock Market Analysis - IBD

 

[taterpeeler]

It's a formality. When has a proposed rule not been enacted by this administration?

Funny. I have not gotten any s.t.m spam emails lately from carriers.

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[/url]

Thats because they gave up on you....

 

[Yagents]

Thats because they gave up on you....

I don't have a comeback to that lame response. You can do better than that, u from tejas

 

[agentinsure]

non-elected bureaucrats are legislating what we as Americans may buy and sell and no one has the guts to stand up and do anything but complain and whine, I don't think this is funny in the least and I think clearly shows the sort of future we can expect not only for our industry but for our country as well.

 

[xrac]

non-elected bureaucrats are legislating what we as Americans may buy and sell and no one has the guts to stand up and do anything but complain and whine, I don't think this is funny in the least and I think clearly shows the sort of future we can expect not only for our industry but for our country as well.

It is the makings of a totalitarian government. If they can do it in one area of our lives they can do it in all areas. We are no longer a country that allows free enterprises. The government eventually wants to step in an control everything. This administration and destroyed our healthcare system, our mining industries, oil and gas, etc.

 

[tonyisme]

We have to start dealing with this seriously. If not for us for the generations coming after us