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An NPR article today (link below) predicts a spike in STC plan sales if the individual mandate gets dropped as part of ACA repeal/replace.
A few stats from the article:
• In the fourth quarter of 2016, the average monthly premium a shopper would pay for a short-term plan sold through eHealth.com was $124, compared with $393 for someone who bought a regular Obamacare plan and didn't qualify for premium subsidies.
• Short-term plans serve a tiny but growing proportion of the roughly 22 million people who have coverage on the individual market. At the end of 2013, before the health law's major reforms took effect, there were approximately 108,800 people covered by these policies, which earned premiums of $97.5 million, according to figures from the NAIC. Two years later, roughly 148,100 people had short-term plans and premium earnings have grown to $160.5 million.
• Some insurers have taken notice. Online health insurance vendor Health Insurance Innovations launched Agile Health Insurance in the spring of 2015 to focus on sales of short-term plans. In the third quarter 2016, Agile sold 21,000 short-term policies.
Reading this made me think back to a "first-ever" Short-Term Care program being added to this year’s Med Supp Summit this April in Dallas – by “popular demand” (second link).
Is the immediate future looking bright for STC market?
Short-Term Health Coverage: Popular, Inexpensive And Short On Safeguards : Shots - Health News : NPR
http://ifn.insurance-forums.net/medicare/first-ever-short-term-care-event-to-coincide-with-next-years-med-supp-summit-just-announced-for-april-in-dallas/
A few stats from the article:
• In the fourth quarter of 2016, the average monthly premium a shopper would pay for a short-term plan sold through eHealth.com was $124, compared with $393 for someone who bought a regular Obamacare plan and didn't qualify for premium subsidies.
• Short-term plans serve a tiny but growing proportion of the roughly 22 million people who have coverage on the individual market. At the end of 2013, before the health law's major reforms took effect, there were approximately 108,800 people covered by these policies, which earned premiums of $97.5 million, according to figures from the NAIC. Two years later, roughly 148,100 people had short-term plans and premium earnings have grown to $160.5 million.
• Some insurers have taken notice. Online health insurance vendor Health Insurance Innovations launched Agile Health Insurance in the spring of 2015 to focus on sales of short-term plans. In the third quarter 2016, Agile sold 21,000 short-term policies.
Reading this made me think back to a "first-ever" Short-Term Care program being added to this year’s Med Supp Summit this April in Dallas – by “popular demand” (second link).
Is the immediate future looking bright for STC market?
Short-Term Health Coverage: Popular, Inexpensive And Short On Safeguards : Shots - Health News : NPR
http://ifn.insurance-forums.net/medicare/first-ever-short-term-care-event-to-coincide-with-next-years-med-supp-summit-just-announced-for-april-in-dallas/
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