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Because the novel coronavirus, COVID-19, has now been designated a pandemic by the World Well being Group and greater than 1,000 circumstances have been confirmed in america, many employers are questioning how their employer-sponsored well being plans will reply.
Will Testing Be Coated?
Right now, most insurance coverage carriers have agreed to cowl testing as a preventative service so there will probably be no value share to plan members. America’s Well being Insurance coverage Plans (AHIP) has offered a radical breakdown of how carriers are masking prices associated to COVID-19 right here:
https://www.ahip.org/health-insurance-providers-respond-to-coronavirus-covid-19/
Self-Funded Well being Plans
Employers with self-funded well being plans might want to determine how they wish to cowl testing. Our Scott Profit Providers group will probably be reaching out to self-funded shoppers to make sure choices are made and communicated appropriately with their provider.
What about Excessive-Deductible Well being Plans?
Usually, high-deductible well being plans (HDHPs) can solely pay for sure companies as soon as the member’s deductible has been met. The Inner Income Service suggested as we speak in Notice 2020-15 that HDHPs will pay for testing and therapy associated to COVID-19 with out jeopardizing their standing. Moreover, any potential vaccination prices would depend as preventative care and due to this fact will be paid for by an HDHP.
Our group is devoted to serving to our shoppers navigate this pandemic and safeguard the well being and well-being of their staff and communities. Please contact your Scott Benefits Consultant with any questions or issues you’ve gotten right now.
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