The Department of Labor (DOL), Department of Health, Department of Health and Human Services (HHS), and the Department of the Treasury (Treasury), collectively “the Departments,” releasedinterim final rulesregarding implementation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act’s coverage requirement for COVID-19 diagnostic tests and preventive services. These rules, which provide guidance on the cost-sharing requirements for COVID-19 tests and treatment, are timely due to public health experts’ expectation that several COVID-19 vaccines will be available by 2021
Final Rules on Coverage Transparency
On October 29, 2020, the Internal Revenue Service (IRS), Department of Labor (DOL), and the Department of Health and Human Services (HHS) (collectively, Departments), releasedfinal ruleson coverage transparency, in order to provide health coverage recipients with an estimate of their potential cost-sharing liability for health related services prior to the receipt of care.
What You Need to Know about Health Flexible Spending Accounts
Updated for 2021 Health FSA limit and 2021 carryover amount.
A health flexible spending account (health FSA) is a pre-tax account used to pay for out-of-pocket medical care costs for a participant as well as a participant's spouse and eligible dependents. Health FSAs are employer-established benefit plans and may be offered with other employer-provided benefits as part of a cafeteria plan. Self-employed individuals are not eligible for health FSAs.
The U.S. Supreme Court and theFuture of the Affordable Care Act
On November 3, 2020, millions of Americans will cast their votes in support of presidential candidates with diametrically opposed views on the future of health care in this country. President Trump has been unwavering in his opposition to the Affordable Care Act (ACA) and has made a consistent effort to diminish the ACA’s efficacy, consistent with the President’s 2016 campaign promise. Like-minded congressional opponents of the ACA were also instrumental in passing the Tax Cuts and Jobs Act which essentially resulted in the repeal of the unpopular individual mandate (reduced the penalty for not complying to zero dollars beginning in 2019), viewed by many as punitive to economically vulnerable individuals. Presidential candidate Biden, on the other hand, is an ardent supporter of the ACA. The polarity in the views communicated by both candidates mayhave a profound effect on the delivery of employer-provided health care in years to come based upon the outcome of the election.
Vermont Health Connect’s Open Enrollment begins Nov. 1st and ends Dec. 15th.
During Open Enrollment, Vermonters can sign up for health insurance through Vermont HealthConnect—Vermont’s health insurance marketplace. This is also the time when existing members can change plans. Many Vermonters who already have Vermont HealthConnect coverage will be automatically renewed into the same plan—so if you don’t want to switch plans, all you have to do is keep paying your bills ontime and your coverage will update automatically.