The revisions are proposed to define and more clearly distinguish short-term, limited-duration insurance and fixed indemnity excepted benefits coverage from comprehensive coverage, which is subject to the Federal consumer protections and requirements established under chapter 100 of the Code, part 7 of the Employee Retirement Income Security Act of 1974 (ERISA), and title XXVII of the Public Health Service Act (such as the prohibition on exclusions for preexisting conditions, the prohibition on health status discrimination, the requirement to cover certain preventive services without cost sharing, and many others). The preamble to the proposed regulations explains that: Clarify the tax treatment of certain benefit payments in fixed amounts received under employer-provided accident and health plans that are paid without regard to the amount of medical expenses incurred.Amend the requirements for hospital indemnity or other fixed indemnity insurance to be considered an excepted benefit in the group and individual health insurance markets.The proposed regulations (63 pages as published in the Federal Register on July 12, 2023) also would: The Treasury Department and IRS-along with the Department of Labor and the Department of Health and Human Services-today released for publication in the Federal Register proposed regulations (REG-120730-21) that would amend the definition of “short-term, limited-duration insurance,” which is excluded from the definition of “individual health insurance coverage” under the Public Health Service Act.
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