To our Valued Clients and Friends:
Due to the impact of COVID-19 (coronavirus), Congress, the IRS, and other federal agencies have taken significant actions to provide relief for workers and their families.
Here’s a list of items you need to be aware of from an HR perspective now that the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has been signed.
- FSA & HRA Expansions
- Over-The-Counter (OTC) medications, including non-prescription pain relievers and cold/flu medications, may once again be purchased without a prescription.
- Expenses for menstrual care products have been added to the list of eligible expenses.
- Since this is considered a change to the plan, each Employer has to decide if they want to make the OTC available from 1/1, effective now, or effective in the *near future when the IIAS codes have been updated by SIGIS at the vendor level. A plan Amendment is located on our website. We are waiving standard amendment fees during the pandemic.
- FSA- Dependent Care (DCAP)
- Payroll deductions for Dependent Care benefits can likely be changed due to a change in cost or coverage as many employees are temporarily working from home and/or Daycare Centers are closed.
- HSA Expansions
- Covid-19 testing and treatment expenses are payable without meeting the HSA deductible.
- 2019 HSA contribution deadline has been extended from April 15, 2020 to July 15, 2020 (IRS Notice IR-2020-58).
- Over-The-Counter (OTC) medications, including non-prescription pain relievers and cold/flu medications, may once again be purchased without a prescription.
- Expenses for menstrual care products have been added to the list of eligible expenses .
- Commuter (Parking & Transit) Benefits
- Payroll deductions for Transit/Commuter benefits can be changed at any time making it easy for those temporarily working from home.
- COBRA Administration-
- with the expected increase in terminations related to imposed restrictions, compliant and timely COBRA administration is going to be more important than ever. Corporate Coverage TPA encourages third party administration of COBRA benefits for all our clients.
Corporate Coverage TPA has the flexibility to work with you as we navigate the everchanging rules and regulations for benefit administration during the COVID-19 pandemic.
For the health and safety of our employees, most are working remotely in compliance with current guidelines. Therefore, we encourage electronic communication to ensure the timely adjudication of claims. If you need to telephone us, please be sure to leave a detailed message so that your call can be returned.
We are here to help. If you have any questions or concerns, please contact us at the address provided.
Former INNOVA Benefit Services clients can send correspondence to questions@corporatecoverage.net
All other Corporate Coverage TPA clients can send correspondence to claims@corporatecoverage.net
Please be safe and practice all of your local COVID-19 health guidelines.
Corporate Coverage TPA
*Important OTC Information– SIGIS is currently working to identify changes to the eligibility criteria and Eligible Product List. They are including more than 19,000 OTC drugs and medicines in their database and doing a full review on nearly a thousand items in feminine care categories including menstrual care products. Their goal is to complete their review and publish a new Eligible Product List by April 15, 2020.