MedBen has prepared a summary of The Coronavirus Aid, Relief, and Economic Security Act – or CARES Act – which became law on March 28, 2020.While the majority of the CARE Act’s 335 pages deals with economic relief for American businesses, financial assistance for workers, and bolstering our health care system in light of the COVID-19 pandemic (including Medicare and Medicaid), several provisions affect self-funded group health plans and health insurance policies offering both individual and group health coverage (including grandfathered plans). Most of the Act’s health plan-related provisions clarify earlier requirements set forth in the Families First Coronavirus Response Act (“FFCRA”) and therefore bear the same effective dates. In addition, the CARES Act includes expanded coverage for telehealth, COVID-19 vaccines, and over-the-counter medications.
In addition to outlining the pertinent provisions of the CARE Act, the summary includes MedBen recommendations on addressing employer responsibilities. We encourage you to read the summary and contact MedBen Senior Vice President Caroline Fraker with any questions you have at 800-851-0907 or cfraker@medben.com.