To counter their record revenues, many insurers are offering cost-sharing waivers for COVID-19 treatments, with a few are also offering additional measures like premium relief.
By Rhys Dipshan|August 24, 2020 at 10:01 AM
Thank you for sharing!
Your article was successfully shared with the contacts you provided.
Many of cost-sharing waivers issued by health insurers have already expired or will lapse this month. But with the COVID pandemic still in full swing, what will that mean for Americans in need of health care?
As a result of many delaying non-essential medical treatments, health insurers are now seeing a rise in profits. But due the Affordable Care Act’s (ACA) Medical Loss Ratio (MLR) rule, which dictates how much premium income must be spent on medical care, these companies are looking to return some of that capital back to consumers in the form of cost-sharing waivers.
Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.
Your access to unlimited BenefitsPRO.com content isn’t changing. Once you are an ALM digital member, you’ll receive:
Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Competing successfully in today’s labor market means moving away from reactive recruitment practices that are overly reliant on compensation. Instead, take a more strategic approach with innovative add-on health benefits that complement core benefits and can be tailored to the needs and wants of a diverse workforce. Download this guide to learn how.