If you’re looking for cheaper health insurance, a whole host of new options hit the market Tuesday.
But buyer beware!
If you get sick, the new plans – known as short-term, limited duration insurance — may not pay for the medical care you need.
“These are a niche product, always have been,” says Doug Badger, a visiting fellow at the conservative Heritage Foundation in Washington, and a senior fellow with the Galen Institute. “It’s simply another choice for consumers that for many is more affordable than the other products available,” he says.
Short-term health insurance isn’t entirely new. But the Obama Administration issued regulations that limited them to just three months, and they couldn’t be renewed.
The Trump Administration has changed that.