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Covering Coronavirus: Risk Considerations Volume 1, Issue 4

… and individuals work toward a new normal for the immediate future, we continue to examine how coronavirus is impacting the insurance industry. In this issue, we are taking a focused look at: Steps to take to assess and track damages in the event that policies will provide coverage Updates on Employee Benefits issues: self-funded health plans, telehealth, and STD claims Ways to comply with the SEC’s directive on coronavirus disclosures The information below is intended to provide a high level overview of critical areas of concern for businesses around coronavirus. Consult your EPIC insurance broker for more in …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-4/

The Future of Wellness – Make it Personal

Viewpoints from Ayana Collins I read a lot of articles on the latest wellness trends in my downtime, and my most recent search results page yielded titles alluding to the end of traditional wellness programs. And I agree – programming with a one-size-fits-all approach has run its course. Wellness providers have responded by creating digital ecosystems with access to multiple resources to make the participant experience more personalized. Employees are more likely to participate if they feel the wellness program aligns with their needs and provides appropriate support. Clients frequently ask me how can they create an engaging …

https://www.epicbrokers.com/insights/the-future-of-wellness-make-it-personal/

Covering Coronavirus: Risk Considerations Volume 1, Issue 3

… of any deductibles, copays, or coinsurance. Additionally, insurance regulators in Oregon have reached an agreement with several insurance carriers to waive costs related to testing. We expect other states will join in this trend over the coming weeks. Regardless of these state mandates, several major insurance carriers have opted to offer testing cost-free. Impact to Employers with Self-Insured Health Plans With certain limitations, the Employee Retirement Income Security Act (ERISA) broadly preempts “any and all State laws insofar as they may now or hereafter relate to any employee benefit plan” covered by ERISA. Consequently, employers with self-insured

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-3/

Who Pays for Coronavirus?

Vice President Mike Pence, who has been charged with leading the government’s containment efforts on coronavirus, announced that insurance carriers have agreed to waive copays for diagnosis of the illness. Further, telemedicine related to the disease is also to be covered without any cost to the patient. This is important since potential exposure at hospitals or other treatment facilities is not optimal for the patient or others with comorbidities. The administration also stated that there would be no surprise billing related to treatments for the disease. And self-insured employers seem to be following this directive as well. The …

https://www.epicbrokers.com/insights/who-pays-for-coronavirus/

Targeting Dental Care to Address the Opioid Addiction Crisis

For the past few years, insurance carriers have been trying to address the opioid crisis with campaigns targeting inpatient and outpatient programs, mental health counseling, etc. But more recently, efforts have focused on prevention as opioid awareness has grown. Opioid-related deaths have precipitated a host of lawsuits against drug manufacturers and the addiction treatment industry is booming. UnitedHealthcare (UHC) has a new focus, dental care, in a more recent effort to address the opioid epidemic. Analysis from UHC found that dentists prescribe around 12% of opioids nationwide – and they prescribe 54% of the opioids that end up being dispensed …

https://www.epicbrokers.com/insights/targeting-dental-care-to-address-the-opioid-addiction-crisis/

Compliance Alert: IRS Announces that HDHPs Can Cover Coronavirus Testing at No Cost with No Effect on HSA-Eligibility

BACKGROUND As fears regarding Coronavirus continue to envelop the nation, some states have elected to take proactive measures to ensure that their residents have access to cost-free Coronavirus testing.  Insurance regulators in five states (California, Maryland, New York, Vermont, and Washington) have now issued mandates that require insured policies issued in those states to offer Coronavirus testing free of charge.  Specifically, health insurance policies offered in these five states must cover Coronavirus testing cost-free, without application of any deductibles, copays, or coinsurance. Additionally, insurance regulators in Oregon have reached an agreement with several insurance carriers to waive costs …

https://www.epicbrokers.com/insights/irs-announces-that-hdhps-can-cover-coronavirus-testing-at-no-cost-with-no-effect-on-hsa-eligibility/

Covering Coronavirus: Risk Considerations Volume 1, Issue 2

EPIC Risk Advisory Bulletin Volume 1, Issue 2 Coronavirus continues to spread, leaving ramifications in its wake. This week, we’re taking a more focused look at two areas of business operations that will continue to be heavily impacted by coronavirus: Business Continuity Supply Chain Disruption The information below is intended to provide a high level overview of critical areas of concern for businesses around coronavirus. Consult your EPIC insurance broker for more in-depth guidance. Business Continuity, Planning and Preparedness As was mentioned in last week’s issue, the purpose of a Business Continuity Plan (BCP) is to provide …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-2/

Coronavirus Is a Major Challenge to Employers and Human Resource Professionals

… departments with new issues, and public policy will further complicate matters for employers. Short-term disability contracts provide income replacement to workers who are unable to work due to illness or injury, and these would apply should an employee contract the disease. But what should an employer do if the employee is unable to work due to quarantine from exposure to illness, and for how long? One major insurance company posed just that question to its self-insured clients: if absence from work is due to disease spread prevention, would the employer authorize short-term disability benefits even if the …

https://www.epicbrokers.com/insights/coronavirus-is-a-major-challenge-to-employers-and-human-resource-professionals/