Dear ABC Central Ohio Member,
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) into law to provide $2.2 trillion in federal funding to address the COVID-19 crisis.
The CARES act includes a variety of changes for group health plans and health insurance issuers. Preventative services for COVID-19 must be covered without cost-sharing soon after they become available and HDHPs can cover telehealth services without a deductible. It is also important to note that effective January 1, 2020, HSAs, FSAs or HRAs can be used for over the counter medications without a prescription.
A Compliance Bulletin that provides an overview of the CARES Act and the changes for health plans can be found here. Employers that sponsor group health plans should become familiar with the CARES Act changes for their plans.