Are Insurance Companies Allowed to Set Their Own Deductible Amount or is this Mandated by Gov?

[armornone]

Are there minimum coverage requirements in a health care policy or can a insurance company set their own policy?
I am researching a little about what it takes to start an a very budget insurance company for people who could not otherwise afford insurance and only for major disasters not little things. Basically to be used as a safety net.
Kind of how paypal was the right tool for the job during the 90's with ebay vs the large bank.

Anyway, I was wondering if there were any rules dictating a minimum deductible amount or exactly how budget an insurance company was allowed to be?
Thanks.

 

[Yagents]

If you're asking this question, please don't do what you're about to do.

If you're joking, thanks for the laugh, it's been a long week

 

[deadhead]

How about offering plans on EBAY and let customers bid on them

 

[AllenChicago]

Are there minimum coverage requirements in a health care policy or can a insurance company set their own policy?
I am researching a little about what it takes to start an a very budget insurance company for people who could not otherwise afford insurance and only for major disasters not little things. Basically to be used as a safety net.
Kind of how paypal was the right tool for the job during the 90's with ebay vs the large bank.

Anyway, I was wondering if there were any rules dictating a minimum deductible amount or exactly how budget an insurance company was allowed to be?
Thanks.

ArmOrnOne, you are right on. Health insurance companies can create their own major medical policies, as long as they're compliant with ACA regulations.

If you are in one of the Medicaid expansion states, you can help peeps that can't afford insurance apply for the bodacious new Medicaid health insurance plan. The people who pay taxes in this country will take care of the premiums and the deductibles for your clients. Whack aint it?
-ac

 

[taterpeeler]

In poker we used to call these comments this... Stop tapping the glass