Biden is announcing a new rule to protect consumers who purchase short-term health insurance plans

(AP) - President Joe Biden is announcing new steps to protect consumers who buy short-term health insurance plans that critics say amount to junk.

A new rule finalized by the Democratic president's administration will limit short-term health insurance to just three months.

And the plans can only be renewed for a maximum of four months, instead of up to the three years allowed under Biden's predecessor, Republican President Donald Trump.

The Biden administration is also requiring short-term plans to provide consumers with clear explanations of the services they cover and how much.

The White House says the rule is part of the president's interest in reducing costs for consumers.