Following the issuance of the emergency use authorization (EUA) by the U.S. Food and Drug Administration (FDA) of the Pfizer-BioNTech and Moderna COVID-19 vaccines, plan sponsors need to consider how to cover the administration of the COVID-19 vaccines for their memberships.
In addition to vaccine administration coverage, plan sponsors have been faced with other decisions relating to COVID-19 throughout 2020, and have taken various approaches to addressing issues resulting from the pandemic.
At this point, the expectation is that the federal government will pick up the cost of the vaccine itself for nongovernmental plans. Coverage for the cost of administration of the vaccine will depend on the grandfathered status of the plan.
In this Multiemployer Alert, Milliman’s Michael Halford, Sean Silva, and David Stoddard provide plan administrators with information they should consider as 2020 comes to a close.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is the third piece of legislation passed in response to the coronavirus pandemic. In this Multiemployer Alert, Milliman’s Sean Silva and Reza Vahid describe Title III (Supporting America’s Health Care System in the Fight Against the Coronavirus), Part II (Access to Healthcare for COVID-19 Patients), Subpart A (Coverage of Testing and Preventive Services), of the CARES Act.
In March, President Donald Trump signed the Families First Coronavirus Response Act in response to the coronavirus pandemic. In this Multiemployer Alert, Milliman’s Sean Silva, John Botsford, and Ilina Ingolia provide an overview of what the Act covers.
Many trusts that provide medical and prescription drug benefits on a self-insured basis do not have sufficient assets to absorb the impact of unexpected large claims. As a result, self-insured trusts often protect themselves against the impact of large claims by contracting with a stop-loss carrier. As fiduciaries to health and welfare trusts, trustees must understand the details regarding their stop-loss carrier contracts in order to ensure the trust is receiving the most competitive price while also receiving sufficient protection against large claims in order to maintain sufficient trust assets. This Multiemployer Review article by Milliman consultants Sean Silva and David Stoddard focuses on specific stop-loss policies employed by multiemployer plan sponsors.