The plan includes a crackdown on scam insurance plans, new guidance to prevent surprise medical bills and an effort to reduce medical debt tied to credit cards.
President Joe Biden speaks about his economic plan at the Flex LTD manufacturing plant on July 6, 2023 in West Columbia, South Carolina. President Joe Biden on Friday rolled out a new set of initiatives to reduce health care costs: a crackdown on scam insurance plans, new guidance to prevent surprise medical bills and an effort to reduce medical debt tied to credit cards.
Gearing up for his 2024 reelection campaign as inflation remains a dominant concern for voters, the Democratic president has emphasized his policies to help families manage their expenses, as well as a spate of government incentives to encourage private sector development of electric vehicles, clean energy and advanced computer chips.
The Biden administration plans to limit what it calls "junk" insurance plans, such as short-term policies that can deny basic coverage as people transition between employers and still need temporary health care coverage. "That’s not real insurance — that’s junk insurance," Tanden told reporters on a phone call previewing Biden's remarks. "We will propose a rule to crack down on these plans."
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