Biden highlights new steps on health care costs and 'junk fees'
The steps being taken by the Biden administration are part of the president’s economic agenda, recently dubbed “Bidenomics.”
WASHINGTON — President Joe Biden delivered remarks from the White House on Friday afternoon about the latest actions his administration is taking to help lower health care costs and limit so-called insurance junk fees to consumers.
“Too many Americans lie in bed, staring at the ceiling worrying what will happen if their spouse gets seriously ill,” Biden said, highlighting a series of regulatory moves that the White House announced in a fact sheet earlier in the day.
Among the administration's new efforts are proposed rules that would close loopholes that let companies offer "misleading insurance products that can discriminate based on pre-existing conditions and trick consumers into buying products that provide little or no coverage when they need it most," the White House said.
Actions taken by the Trump administration had allowed insurance companies to take advantage of those loopholes, it added.
In his remarks, Biden said that under a new rule, insurance companies would be required to provide a clear disclaimer upfront about what's covered, "instead of burying it in fine print."
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