Friday, September 14, 2018
OKLAHOMA CITY – Oklahoma Insurance Commissioner John D. Doak plans to work with the Legislature to expand state law regarding short-term limited duration health insurance coverage. Last month, the Trump administration finalized rules on short-term policies expanding the maximum duration from three months to 12 months and allowing insurers to renew or extend short-term coverage for up to 36 months. Currently, Oklahoma law only allows the plans to be sold on a non-renewable basis with a duration of six months or less.
“These final rules are intended to help those left behind by Obamacare,” said Doak. “Short-term policies are not junk, as liberals suggest, but affordable options for millions left behind in the Obamacare disaster. I’m confident we can work with state lawmakers to revamp the current law and make it much less restrictive.”
Earlier this month, Commissioner Doak issued a bulletin to licensed insurers clarifying state law on short-term limited duration plans. The bulletin provided guidance to insurers interested in issuing new policies after the Departments of Labor, Treasury and Health and Human Services amended the definition of individual health insurance coverage. The bulletin emphasized compliance to both the new federal rules and Oklahoma law related to limited duration insurance policies.
About the Oklahoma Insurance Department
The Oklahoma Insurance Department, an agency of the State of Oklahoma, is responsible for the education and protection of the insurance-buying public and for oversight of the insurance industry in the state.
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For more information, contact:
Kelly Dexter
405-522-0683
Kelly.Dexter@oid.ok.gov