Mike Pirner had emergency gall bladder surgery shortly after buying short-term medical insurance plan (STM), for $150/month. The costs associated with the procedure were $100,000 — Mike only had to pay his $2,500 deductible, which was also his out-of-pocket maximum. President Biden has proposed rules released Friday of the July 4th week that would limit these plans to three months, with one additional month possible. Currently, these plans can last up to three years.
This would have a significant impact on many Americans. For example, if Mike had been on a standard Affordable Care Act (ACA)/ObamaCare plan he would have paid an $8,550 deductible for the surgery, assuming his plan covered that facility.
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