On June 8, 2016, short-term federal officials have proposed amendments to the Health Insurance 
policies that relate to the affordable care Act (ACA). These changes would put restrictions on short-term current policies and close a "loophole" in ACA, according to Health and Human Services (HHS) Secretary Sylvia Burwell. While these changes may not affect your business directly, it is important to understand how they can influence the health insurance costs of employees
Overview:.? What are the proposed changes
If adopted, the proposal would limit the short-term limit coverage within three months a year and also prevent the tenant to renew. This would eliminate the current short-term plans that allow coverage for a full year with a renewal option.
The purpose of this change is to merge the insured under short-term plans with regular market plans to add healthy people in the pool. The thought process here is that people in good health will help balance the health insurance costs with those who are struggling with the disease.
The opposition claimed that some insured short term will choose to forgo health insurance rather than join the market. Those holding short-term policies usually cite the inability to pay the cost of health insurance a comprehensive market plan as the reason for their choice.
Mandatory Day Comment Period 60
By law, HHS must allow a comment period of 60 days after the announcement of the proposal to hear the public's views. After the public consultation period is over, regulators will be left to review the comments and decide the fate of the proposal.
Many skeptics believe that officials are concerned by the projected increase in health insurance costs in the registration of 2017.
How you can help your employees with their health insurance costs
a way to help your employees with health insurance costs is to offer a single repayment plan. Section 105 plans are a great way to offer formal health benefit to your employees if you are unable to pay the cost of traditional health insurance.
Research shows that individual policy health insurance is more affordable than group health policies. If your employees buy private health insurance or are enrolled in the ACA, you can help to complement their health insurance costs by providing a medical reimbursement plan.
Conclusion
If this proposal is approved, the short- to long-term health insurance policies will be more severely restricted and could affect the health insurance costs of your employees. By providing individual repayment plan, you can help cover some of their expenses without actually carry insurance. If these changes affect your employees, encouraging them to leave comments during the public comment period.
Do these changes affect you or your employees? What are you doing to help curb costs? Let us know in the comments below!
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