A proposed federal rule change may extend the time frame for short term limited duration (STLD) health plans. These STLD plans, which may deny coverage or charge premiums without limit based on pre-existing conditions, may increase premiums and decrease stability of the individual market, while impacting Exchange consumers.
“The Exchange is deeply concerned about the impact the proposed rule may have on the stability of the individual market,” Silver State Health Insurance Exchange Executive Director Heather Korbulic said. “Enacting this rule will not increase access to comprehensive quality coverage—rather, it will likely result in increased premiums for Exchange consumers while siphoning individuals into plans that do not offer comprehensive benefits.”
The short term limited duration plans will likely attract young healthy people, causing those individuals to leave the Exchange’s insurance marketplace. Individuals with pre-existing conditions and those who anticipate needing medical care will most likely continue to choose comprehensive coverage, which will result in premium increases for all who remain on the Exchange.
Oftentimes, these short term limited duration plans are sold as comprehensive health insurance. When consumers sign up for a short-term health plan, they may not understand what rights they are waiving that would be covered under a qualified health plan. Unlike plans offered through Nevada Health Link, these short term limited duration plans do not require the inclusion of the ten essential health benefits, which cover preventative care, prescription drugs and other important benefits. The extension of short term limited duration plans does not mean they should be substituted for long-term health coverage plans.
When choosing health insurance, always consult with a navigator, certified enrollment assister or licensed broker through Nevada Health Link. Use our in-person assistance tool to find a trained and certified individual in your area who can help you with the enrollment process one-on-one.
If you have any questions or concerns about short term limited duration health plans, please email us at customerserviceNVHL@exchange.nv.gov or call us at 1-855-7NVLINK (855-768-5465).