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Thu Sep 22, 2022, 03:53 PM

Federal Trade Commission Penalizes Company, but Junk Insurance Plans Continue to Harm Consumers

Last month, the Federal Trade Commission (FTC) announced an enforcement action against a junk insurance company to reimburse consumers $100 million after finding the company used deceptive advertising and created barriers to prevent consumers from canceling the policies. This important announcement reveals the continued harms of junk plans, which lack important consumer protections and may masquerade as true coverage. We urge the Biden administration to reduce the availability of junk insurance that puts millions at financial and health risk from lack of coverage and unexpected health care expenses.

Since 2018, short-term limited duration insurance plans (STLDIs) have cluttered the individual health insurance market. These plans often do not include coverage for prescription drugs, mental health, or preexisting conditions and often limit how much they will pay. But consumers can be lured by deceptive marketing and premiums that usually come in below Affordable Care Act (ACA) compliant coverage.

When the Trump administration expanded the availability of STLDIs, Medicare Rights outlined significant concerns, including the potential that such plans would cause problems in the insurance market and lead to people lacking sufficient health coverage. This FTC action demonstrates that our concerns were well founded.

We continue to urge the Biden administration to reverse the expansion of STLDIs, bolster ACA-compliant plans, and protect consumers from the confusion and deceptive marketing that go hand-in-hand with these products.

https://www.medicarerights.org/medicare-watch/2022/09/22/federal-trade-commission-penalizes-company-but-junk-insurance-plans-continue-to-harm-consumers

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Reply Federal Trade Commission Penalizes Company, but Junk Insurance Plans Continue to Harm Consumers (Original post)
Yo_Mama_Been_Loggin Thursday OP
brush Thursday #1
keithbvadu2 Thursday #2

Response to Yo_Mama_Been_Loggin (Original post)

Thu Sep 22, 2022, 03:57 PM

1. Is Colonial Penn, which advertizes mightily on TV...

one of the junk insurance companies?

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Response to Yo_Mama_Been_Loggin (Original post)

Thu Sep 22, 2022, 04:05 PM

2. Where is the less expensive, better coverage that Trump promised many times (often in two weeks)?

Where is the less expensive, better coverage that Trump promised many times (often in two weeks)?

Jan 16, 2017

President-elect Donald Trump revealed in an interview with The Washington Post that he’s almost finished with a plan to replace ObamaCare and vowed to have “insurance for everybody.”

https://www.foxnews.com/politics/trump-insists-health-care-replacement-will-have-insurance-for-everybody

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