Coronavirus Aid, Relief, and Economic Security Act (CARES Act)

Vectra DigitalBlog

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) enacted March 27, 2020 is an economic stimulus measure for individuals, businesses, and hospitals in response to the economic distress caused by the coronavirus (COVID-19) pandemic.  It also contained the following provisions that could affect your health plans: COVID-19 testing coverage must include out-of-network services.  The allowable expense can be … Read More

COVID-19 Legislation and Resources

Vectra DigitalBlog

While federal, state, and local governments are frantically drafting, debating, and enacting a plethora of coronavirus-related legislation, employers and plan sponsors are becoming overwhelmed with the influx of information. In an effort to provide resources that can be accessed as needed, we provide links below for the topics our clients are asking about the most. Remember to also point your … Read More

COVID-19 and High Deductible Health Plans

Vectra DigitalBlog

In response to the present health crisis, the IRS issued Notice 2020-15, which permits Health Savings Account (HSA)-compatible high deductible health plans (HDHPs) to cover the testing and treatment of COVID-19 without deductible or other cost sharing. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) further relaxed the HDHP rules to allow the coverage of all telehealth and … Read More

Update to Our Clients on COVID-19

Vectra DigitalBlog

As a country, we are rapidly adapting to the global pandemic of COVID-19. Foster & Foster is monitoring the situation to understand how the virus will impact our clients’ benefit plans. We would like to share this update, which contains our policies and recommendations as of Friday, March 13, 2020. We will follow developments and update you as things change. … Read More

State Individual Mandates Add to Employer Reporting Responsibilities

Vectra DigitalBlog

In response to the federal government’s repeal of the financial penalties of the Affordable Care Act’s (ACA’s) Individual Mandate, several states have enacted their own individual mandates. Without the federal penalty in place, many states feared that there would be a exodus of healthy individuals from the plans offered in their respective healthcare marketplaces. In order to avoid market destabilization, … Read More