Under the programs launched by the nation’s largest insurers, health plans won’t make patients pay for deductibles, copays, co-insurance and other cost-sharing if they’re hospitalized with COVID-19.
However, people who are insured through their employer may face out-of-pocket costs for treatment, as employers with self-funded or self-insured health plans can opt out of the programs, according to MarketWatch. Self-funded means the health plan administers the benefits while the employer pays for them.
Health insurers have encouraged employers with self-funded plans to participate in the cost-waiving programs.
Read the full report here.
More articles on healthcare finance:
9 health systems with strong finances
14 health systems receiving biggest CARES Act payments
Pennsylvania hospital to close, lay off 694 if sale collapses
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.