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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
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.