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HHS Secretary Alex Azar and President Trump. Photo: Chip Somodevilla/Getty Images

The Trump administration this morning will finalize new rules for "short-term" insurance plans — one of its most significant steps yet to chip away at the Affordable Care Act's insurance markets.

The big picture: Short-term plans are cheap, and offer few benefits. They appeal mainly to healthy people, and that's why the Obama administration limited the plans — to keep healthy people in the ACA's exchanges. The Trump administration is moving hard in the other direction.

How it works: The new regulations will allow a "short-term" plan to last up to a year, and consumers will be able to keep them for as long as three years, senior Health and Human Services officials said.

  • The Obama administration, by contrast, only allowed people to have these plans for three months at a time.
  • Short-term plans don't have to meet the ACA's benefit requirements. They can deny coverage based on pre-existing conditions, don't have to cover any specific set of benefits, and can cap how much they'll pay in a year.
  • As a result, they're cheap.

“We don't expect there to be significant migration away from the exchanges," Jim Parker, an HHS senior adviser, told reporters.

  • HHS says it's expecting roughly an additional 600,000 people to buy the policies this year, eventually ramping up to 1.6 million. It thinks only about 200,000 of those people would have otherwise used the exchanges.
  • If that's the case, it would likely be because premium increases have driven so many healthy people out of the ACA's marketplaces already. People who don't get a subsidy to help pay their premiums are fleeing the exchanges, and people who do get a subsidy would be unlikely to give it up.

Yes, but: Even if only 200,000 people leave the exchanges for these plans, this regulation isn't happening in a vacuum. It comes on top of the nullification of the individual mandate, the cuts to enrollment outreach, and the separate (less controversial) rules expanding association health plans.

The bottom line: Taken together, all of these steps clearly steer healthy people away from the ACA and toward other options, all but giving up on the balanced risk pool the Obama administration had hoped to create.

Go deeper

New York AG alleges "significant evidence" of Trump Organization fraud

Combination images of former President Trump and New York State Attorney General Letitia James. Photo: Al Drago/Bloomberg via Getty Images; Scott Heins/Getty Images

New York's attorney general filed a motion Tuesday seeking to compel former President Trump and his two elder children to appear for sworn testimony in her office's civil investigation into the Trump Organization's financial dealings.

Why it matters: Attorney General Letitia James revealed new details in the court filing and a statement on her office's investigation into the Trump Organization's business practices, including a preliminary finding alleging the company used "fraudulent and misleading asset valuations to obtain economic benefits."

2 hours ago - Technology

Ex-N.Y. Post digital chief files lawsuit alleging sexual harassment

Richard B. Levine) (Photo by Richard Levine/Corbis via Getty Images

Former New York Post editor Michelle Gotthelf is suing her former employer, its parent company News Corp. and two editors, alleging she was reprimanded after complaining to senior executives that she was sexually harassed by retired N.Y. Post editor-in-chief Col Allan. The N.Y. Post issued a statement denying any wrongdoing.

Why it matters: "I felt that I owed it to myself and I owed it to the news organization and the people who answered to me," Gotthelf, who was a long time editor at the N.Y. Post, told Axios in an interview.

Updated 3 hours ago - Economy & Business

Airlines warn of flight cancellations amid 5G rollout concerns

Emirates SkyCargo airline Boeing 777F aircraft. Photo: Nicolas Economou/NurPhoto via Getty Images

Emirates and Delta airlines announced Tuesday that the planned rollout of 5G services at certain American airports could affect flights.

Driving the news: AT&T and Verizon announced earlier Tuesday that they would delay this week's scheduled rollout of 5G signals near a limited number of airports due to continued concerns from the aviation industry.

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