The Centers for Medicare and Medicaid Services announced in late February that private group health plans cannot deny coverage or impose cost-sharing for COVID-19 diagnostic testing, regardless of whether or not the patient is experiencing symptoms or has been exposed to someone with the disease.
The CMS said it had issued the new guidance to make it easier for people to get tested with no out-of-pocket costs if they are planning to visit family members or take a flight, for example. Here's what's going on.
New guidance from the Internal Revenue Service allows employers to temporarily give their employees extra benefits leeway in making changes to their flexible spending accounts and health savings accounts.
The guidance, in response to the COVID-19 pandemic, also allows employees to make changes to their health plans outside of the traditional open enrollment period. This item sets out the changes that all employers should note.
A new study has identified the top five health conditions that are driving the overall cost of group health plan outlays, and without which spending would actually be falling.
The report is enlightening, and employers can use the findings to offer programs aimed at education and prevention to help control their employees' health care costs and cut into health insurance premiums paid by both employers and workers. What are the five conditions and what can you do to help your employees?
The $900 billion COVID-19 relief bill, passed by Congress and signed into law on Dec. 27, includes a number of provisions that affect employers and their workers in terms of paid sick leave and Emergency Family and Medical Leave Act provisions.
The legislation also boosts unemployment benefits to out-of-work Americans, as well as reopening and expanding the Paycheck Protection Program that was introduced in March as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
As the COVID-19 pandemic drags on and many Americans see unmet needs outside of their health insurance, more and more workers are increasingly signing up for the voluntary benefits their employers offer.
While many workers in the past had skipped on voluntary benefits, they have grown concerned that a good group health insurance plan may not be enough to provide all the coverage they need.
Part of the COVID-19 relief package that Congress passed in late December includes a notable provision that bans surprise medical bills when out-of-network doctors work on insureds at in-network hospitals.
This so-called "balance billing" occurs when an out-of-network provider is involved in a patient's care at a hospital that accepts their insurance, often without the patient knowing about it. Patients can end up facing unexpected bills in the tens of thousands of dollars.
For the nation’s older residents, the stakes can’t be higher when it comes to choosing health-care coverage.
That’s partly because under Medicare — you’re eligible at age 65 — changing plans can be challenging in some circumstances and costly if you get your choices wrong. So whether you’re giving your coverage an annual checkup during open enrollment (Oct. 15 through Dec. 7) or signing up for the first time, financial advisors say there are some key considerations to factor into your decision-making.
Be ready for sticker shock with COBRA, but ACA has a special enrollment period for people who have lost their jobs
The number of Americans filing for unemployment benefits is staggering. Sadly, these people have not only lost jobs and income but also their health insurance. If you’re among them or will be soon, I’d like to offer my sincere condolences and advice on how to get health insurance after a job loss.
If you’re in the market for life insurance, there are plenty of options available. And if you’re looking for a policy that offers lifelong coverage, one option worth considering is universal life insurance.
With universal life insurance, you can receive lifelong coverage. The life insurance payout, called a death benefit, is paid to your beneficiaries tax-free. Some universal life policies also build cash value, with gains growing tax-free. Universal life policies build cash value, with gains growing tax-free. And there may be flexibility to adjust your premium payments and death benefit, depending on the policy.
Low yields have important implications for retirement strategies. One example is the decision of when to purchase an annuity. Despite the fact that interest in guaranteed income has risen, demand has declined significantly since the onset of the pandemic.