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On February 11th, 2026, the Trump administration issued a proposed rule that would allow insurers to sell multi-year health insurance plans to Americans on the individual market. This regulatory initiative follows the expiry of subsidies for higher-income Americans to purchase plans. (Under the enhanced premium tax credits first enacted in the American Rescue Plan Act of 2021 and extended through the end of 2025 by the Inflation Reduction Act of 2022, Americans with any income were eligible for graduated subsidies if their benchmark plan premiums exceeded 8.5 percent of their income.) The February 11th proposed rule seeks to ensure that affluent households, who can afford to cover their own health care risks, are able to purchase good-value plans which allow them to do so.
Multi-year coverage potentially improves the value of insurance by making it easier for insurers to pool high- and low-risk enrollees. But this will require careful implementation.
Continue reading the entire piece here at Health Affairs
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Chris Pope is a senior fellow at the Manhattan Institute. Follow him on Twitter here.