Angela Gaspar, an Assistant Office Manager of A to Z Insurance does many things in her daily work life. Due to the fact that she is the only one currently in her office, she’s doing a little bit of everything. Gaspar works on deposits, renewals, following up on policies, helps transfer people to different offices.
This morning, CMS released a proposed regulation titled “Short Term Limited Duration Insurance”. This proposed regulation seeks to roll back Obama regulations around short-term insurance, extending the maximum duration of coverage to less than 12 months (364 days for example). Currently, the maximum duration is three months.
CMS will accept comments on the proposed rule for 60 days. The new rule around short-term coverage would go into effect 60 days after the publication of the final rule – we estimate the effective date could be as early as July 1, 2018.