WASHINGTON (Reuters) – President Joe Biden will announce new measures on Friday to crack down on short-term health insurance plans and surprise medical bills, stepping up his war on so-called junk fees to cut health care costs .
This will include a proposed rule that closes loopholes companies use to offer misleading short-term insurance products, discriminate based on pre-existing conditions, offer little or no coverage and impose thousands of dollars in medical costs on consumers. , White House Domestic Policy Adviser Neera Tanden told reporters.
The Obama administration in 2016 limited short-term insurance plans to three months to try to get more people on year-round plans, but regulations passed by the Trump administration in 2018 allowed people to stay on these plans for 12 months and renew for three. years.
With inflation still a potent political issue, the Biden administration has made it a priority to tackle hidden fees by asking several federal regulators to increase their oversight of businesses in various industries, including hotels, banks and airlines.
Biden, who in more than two years as president has witnessed a sharp rebound from the COVID-19-induced recession, has nonetheless seen his public approval rating slump under the weight of public anxiety. voters about inflation and the direction of the economy.
Job creation and low unemployment are the bright spots, while high inflation and the ripple effects of soaring interest rates over the past year in areas such as the market housing fueled fears of recession.
Biden will also announce new rules to reduce surprise medical billing, limit the use of third-party medical credit cards that include “ad rates” and don’t fully disclose risk, Tanden said.
More than half of Americans disapprove of Biden’s handling of his job, while just 35% of those polled approved of his handling of the economy, according to a Reuters/Ipsos poll conducted in June. Voters see the economy as their biggest problem.
(Reporting by Nandita Bose in Washington; Editing by Sonali Paul)