Group Market News
Published May 11, 2020
On Friday, March 27, President Donald Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). The CARES Act provides additional eligible expenses for users of health savings accounts (HSAs), flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs). New eligible expenses include menstrual care products, telehealth services, and over-the-counter drugs not prescribed by a physician retroactively effective to January 1, 2020.
What is CYC doing to implement the requirements of the CARES Act?
ConnectYourCare (CYC) is in the process of operationalizing the requirements of this new act by implementing the following:
- CYC Claims Processors - The CYC claims team has been trained to handle eligible OTC and Feminine Hygiene products purchased on or after 1/1/2020. Starting the week of 4/6/2020, manual claims will be approved and CYC will no longer require a letter of medical necessity for OTC products.
- SIGIS/IIAS Updates (payment card merchant) - SIGIS, the governing body over the IIAS database, is anticipating that approximately 20,000 medicine-based OTC and hygiene products will be added to their database release which is currently scheduled for 4/15/2020. CYC anticipates most major retailers will have these updates in place by late April/early May.
- Member Portal - The list of eligible expenses on CYC's portal has been updated.
For more information contact your Premera account team.