As far as I know, it is still a "Proposed" Regulation.  That means you can use it, but use-at-your-own-risk because if the IRS wants to argue against it, you don't have much to stand on.

Also, even if it is considered as medical insurance for purposes of §213 (medical deductions), it wouldn't necessarily mean it would be considered as medical insurance for purposes of §162(l) (the Self Employed Health Insurance deduction).  It PROBABLY would be, but nothing definite.

With that being said, I would take the Self Employed Health Insurance deduction, but warn the taxpayer that it could possibly be argued against.