Employment expert explains how FFCRA/CARES will impact employee benefits
In order to respond to the continuing COVID-19 crisis which has left millions of people out of work and the economy on the brink of disaster, health insurance and employee benefits are being temporarily revamped to mitigate these pressing concerns.
“Through provisions of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security Act (CARES Act), company benefit plans are experiencing temporary changes geared towards a more employee-friendly offering,” says Rob Wilson, employment expert and President of Employco USA, a employment solutions firm with locations across the country.
Below, Wilson outlines new changes to health insurance plans and employee benefits which have recently been implemented due to the pandemic:
Medical Plan Coverage: “UnitedHealthcare – the nation’s largest insurance company – and other large insurers are waiving cost sharing and copays for coronavirus disease 2019 (COVID-19) treatments,” says Wilson. “While each company differs in how long the waivers will be in place and what other costs will be waived, these announcements are part of a cross-country effort to help individuals access affordable care during the COVID-19 pandemic.”
Continue reading →