Georgetown's Prof JoAnn Volk Discusses Health Care Sharing Ministries (July 21st)
www.thehealthcarepolicypodcast.com
Listen Now The Trump administration has strongly supported alternative insurance plans in the individual market or those that do not meeting regulatory requirements, for example providing what are defined as "essential health benefits," under the Affordable Care Act. (While the administration claims the ACA reforms are responsible for higher premiums, research shows price increases are largely due to the uncertainty caused by unending efforts to repeal the ACA, the elimination of the individual mandate and the White House's decision to end subsidies to marketplace plans.) In 2017 the president issued an Executive Order instructing federal agencies to expand the scope of what are termed Short Term Limited Duration Insurance (STLDI) plans. (A related rule was finalized in 2018, various entities filed suit opposing the final rule's STLDI expansion and this past Friday, the DC US District Court ruled 2-1 in favor of the government.) Related to STLDI plans and much less discussed are what are termed Health Care Sharing Ministries (HCSMs). Though these are not defined as health insurance plans, for example they do not guarantee payment of claims, they are marketed as such. While HCSM plans are growing in number and in subscribers they are neither regulated at the federal nor state level. Nevertheless, the Trump administration has recently published a proposed IRS rule that would treat HCSMs the same as health insurance, i.e., allow individuals to deduct their monthly HCMS fee from their personal income taxes or be reimbursed under a Health Reimbursement Arrangement.
Georgetown's Prof JoAnn Volk Discusses Health Care Sharing Ministries (July 21st)
Georgetown's Prof JoAnn Volk Discusses Health…
Georgetown's Prof JoAnn Volk Discusses Health Care Sharing Ministries (July 21st)
Listen Now The Trump administration has strongly supported alternative insurance plans in the individual market or those that do not meeting regulatory requirements, for example providing what are defined as "essential health benefits," under the Affordable Care Act. (While the administration claims the ACA reforms are responsible for higher premiums, research shows price increases are largely due to the uncertainty caused by unending efforts to repeal the ACA, the elimination of the individual mandate and the White House's decision to end subsidies to marketplace plans.) In 2017 the president issued an Executive Order instructing federal agencies to expand the scope of what are termed Short Term Limited Duration Insurance (STLDI) plans. (A related rule was finalized in 2018, various entities filed suit opposing the final rule's STLDI expansion and this past Friday, the DC US District Court ruled 2-1 in favor of the government.) Related to STLDI plans and much less discussed are what are termed Health Care Sharing Ministries (HCSMs). Though these are not defined as health insurance plans, for example they do not guarantee payment of claims, they are marketed as such. While HCSM plans are growing in number and in subscribers they are neither regulated at the federal nor state level. Nevertheless, the Trump administration has recently published a proposed IRS rule that would treat HCSMs the same as health insurance, i.e., allow individuals to deduct their monthly HCMS fee from their personal income taxes or be reimbursed under a Health Reimbursement Arrangement.