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New CARES Act Provides $2.2 Trillion in Federal Funding

New Coronavirus Relief Laws

1 minute read

The new Coronavirus Aid, Relief, and Economic Security Act (CARES Act) will provide $2.2 trillion in funding to address the COVID-19 pandemic. It makes a variety of changes affecting health plans including:

  • Expanding the types of coronavirus testing that all private health insurance plans must cover without cost-sharing or barriers under the Families First Coronavirus Response Act (FFCRA);
  • Allowing telehealth to be covered under a High Deductible Health Plan (HDHP) before the deductible is met without affecting the HDHP’s compatibility with Health Savings Arrangements (HSA) accounts (applicable for HDHP plan years beginning on or before 12/31/21);
  • Accelerate the process that would make permanent the requirement for health plans to cover preventative services and vaccines related to COVID-19;
  • Treating additional over-the-counter medications and feminine hygiene products as qualified medical expenses that may be paid for using HSAs or other tax-advantaged arrangements.

For more details, download the bulletin.


Additional Resource

CARES Act Infographic

Click to Download the 2020 IRS Contribution Limits Infosheet

This blog is intended to be a compilation of information and resources pulled from federal, state and local agencies. This is not intended to be legal advice. For up to the minute information and guidance on COVID-19, please follow the guidelines of the Centers for Disease Control and Prevention (CDC) and your local health organizations.

National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Steve Smith

Steve Smith

Steve Smith, Employee Benefits Consultant for National Insurance Services, has his energy level permanently set at “high.” His maxim is “work hard, play hard.” Steve’s an expert in getting groups of people working together for a higher cause. Minnesota schools, cities, and counties rely on Steve’s unique and creative ideas of engaging employees in their own health and wellness to lower utilization trends. He has 20+ years in the health insurance field doing compliance, cost mitigation, utilization, analytics, wellness plans, and strategic planning. Steve is a licensed insurance agent and holds the designations for Managed Healthcare Professional (The Health Insurance Association of America), Certified Patient Protection and Affordable Care Act Professional (National Association of Health Underwriters), and Group Benefits Disability Specialist (Hartford School of Insurance). He specializes in Employee Benefits Consulting for Minnesota schools, cities, and counties including fully insured, self-insured, and stop-loss plans.