Short-term health plans due soon
WASHINGTON — President Trump says insurers are ‘‘going wild’’ about his new health care options and ‘‘millions and millions’’ of people will be signing up.
But insurers say it will take time to design plans and get approval from state regulators, and two industry groups are concerned about potential downsides for consumers.
For people who are anticipating cheaper plans, the advice seems to be: Look carefully and read the fine print.
Short-term, limited-duration insurance — just approved — and association health plans represent the Trump administration alternatives to comprehensive but costly policies under the Affordable Care Act.
Both offer lower premiums than comprehensive health insurance but cover less. The plans won’t be sold through HealthCare.gov.
Myra Simon of the industry group America’s Health Insurance Plans said consumers are likely to see advertising this fall for short-term plans but association plans may be harder to find, since they’re not open to everybody.
Short-term plans don’t have to take people with preexisting conditions or cover maternity and mental health costs, prescription drugs, and substance abuse treatment. Association health plans do have to accept people with preexisting conditions but they don’t have to cover the full ACA menu.