Many things are changing as the world continues to confront the novel coronavirus. At the top of that list is the healthcare system, and millions are now worried about their ability to visit doctors and seek treatment — not just for COVID-19 but even for everyday medical needs.
Elective surgeries, for example, have been paused in many places and people are unsure whether or not they should be undergoing other routine procedures, checkups, and care. Others don’t know whether their health insurance might be affected.
In general, the world has become full of uncertainty. Almost everybody is confused about one thing or another, and it’s understandable if you cannot keep up.
But have no fear. By reading the following, you will be able to gain a bit more clarity and learn a few ways in which your coverage may be affected this year.
Mid-Year Health Plan Changes Allowed
In response to the pandemic, the IRS recently released guidelines permitting employers to allow their workers to make mid-year changes to their plans. At the same time, alterations are usually only available once yearly; the crisis has been deemed significant enough to alter that standard protocol.
Availability will depend upon your company. So it won’t be universal for everyone. But even before the regular enrollment period, many employees can sign up for a plan, switch to a different plan, or add family members to their plan. Workers may also drop their healthcare coverage if they have another, better option available and want to take advantage.
FSAs Are Even More Flexible
The federal government is making Flexible Spending Accounts (FSA) even more flexible. Because so many people are putting off doctor visits and delaying other medical purchases they would usually pay for with their FSA; the concern is that they won’t be able to spend all of the pretax money allocated in their account. But the government is giving people an additional six months to use the funds and potentially allowing them to carry over a larger total to the following year.
As with workplace healthcare plans in general, however, you will want to check with your employer to see if this option is available. And suppose your company does not offer either allowance. In that case, it may be worth banding together with some coworkers and lobbying your HR department to see if it’s possible for you all to take advantage of these benefits.
Medicare Coverage Concerns
Beyond employer-provided plans, many seniors on Medicare Advantage plans are nervous about how the pandemic will impact their coverage. The good news is that, so far, the only changes are positive. As outlined on Medicare.gov, anyone enrolled in the federal program will be covered for “all medically necessary hospitalizations” related to COVID-19 and lab tests (with no out-of-pocket costs) and FDA-authorized COVID-19 antibody tests.
And, as with most healthcare services, the benefits for those with Medicare Advantage PPO plans are even broader. “Many plans offer additional telehealth and expanded benefits, like meal delivery or medical transport services,” says the federal agency, which recommends consulting your provider for full details on these extra care options. This is one more reason that plans like Anthem’s MediBlue PPO are an excellent option for those transitioning into retirement.
Coverage in the Time of Coronavirus
Even in regular times, our health is one of the biggest causes of stress. We all fear the worst and worry that, even beyond the physical effects of a disease, we will have to face a situation that isn’t covered by our insurance.
Fortunately, in many ways, healthcare coverage and leading providers are responding in ways that can help many people. The IRS now allows for mid-year plan changes, employers adjust FSA rules, and Medicare ensures coverage for the biggest COVID-19 concerns. That all only ramped up in 2020, with this new crisis dominating every aspect of our lives.
In a crisis like this, nobody will be able to rest easy. But there are hopefully better times ahead, and these helpful changes and updates will help many people have better healthcare coverage outcomes in 2020 — and beyond.
