Filed Under:Agent Broker, Agency Management

Feds Give Flexibility To Limited Benefit Med Plans

NU Online News Service, sept. 15, 3:30 p.m. EDT

WASHINGTON--An insurance agents' group is lauding the decision of federal officials to provide the industry great flexibility when selling limited-benefit medical plans.

the bulletin "essentially told us that if we can prove that meeting the new annual limit regulations would result in premium increases or reduced coverage, companies would get a waiver from the requirements."

Mr. Kopperud said that is "exactly what would happen in the limited medical benefit space" if the waiver wasn't allowed.

major medical policies and provisions for limited-benefit medical plans, which are also known as "mini-med plans."

Insurers developed the plans to provide small amounts of low-cost coverage for temporary workers, part-time workers who otherwise might be unable to afford, or even qualify to buy, conventional major medical coverage.

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