3. Benefit Plan Provisions (Self-Funded Employers) What
Decisions need to be made by self-funded employers on whether (or not) to include the following offering: • If an HDHP plan is offered, waive deductible for telehealth services or other remote care service • Waive cost sharing provisions for COVID-19 treatment on all plans Most fully insured plans are in the process of being amended already to reflect free telehealth and COVID-19 treatment coverage. The idea is to remove all potential barriers to employees receiving care, especially telehealth care. These provisions are not mandates, but fully insured carriers are essentially aligned in amending plans to reflect this coverage. Self-funded plans must decide whether or not to adopt these changes. Employers should check stop loss coverage to confirm coverage will conform to these amendments.
We are hearing that the vast majority of employers are following “the wave” and covering treatment at no cost for COVID-19 related services.
4. Student Loan Provisions What
Consider whether to adopt a Code Section 127 tuition reimbursement plan to provide assistance to employees through tax-free student loan payments. Employers wishing to assist employees burdened with student loan debt may temporarily provide aid to these employees on a tax-free basis. No deadline, but the tax-free loan payment provision expires on December 31, 2020. Some employers may want to implement a student debt cancellation plan to provide assistance and to retain valuable employees.
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