Insurance carriers, Cigna, Humana are Waiving Out-of-Pocket Costs for All Coronavirus TreatmentApril 4, 2020
President Trump at the White House in a press conference announced Sunday, health insurance carriers Cigna and Humana are waiving out-of-pocket costs like co-payments and cost-sharing for all Coronavirus treatment. He said, “That’s a lot of money they are waiving.”
The announcement made on Sunday was significant that took effect from Monday, 30th March 2020, and will run through May 31 for all Cigna customers. However, no end date has been announced from Humana health plans. The co-payments that have been waived off include both in-network and out-of-network healthcare costs.
David Cordani, Cigna president and CEO on Sunday said, “Our customers with COVID-19 should focus on fighting this virus and preventing its spread.”
Cigna and Humana decisions are the latest to be announced by the health insurance companies, who are expanding coverage and excluding cost-sharing for members, right from in-person doctor office visits for testing of coronavirus to telehealth consultations for the screening of the disease.
Cigna and Humana’s efforts are more significant as far as customer finances and access to care are concerned. Simply because, hospitalizations’ co-payments and related cost-sharing for all treatment, besides office visits or a diagnostic screening are more expensive for the health plan. The expansion coverage was announced when several coronaviruses confirmed cases reached toward 140,00 on Sunday.
Bruce Broussard, president and CEO of Humana in a statement said, Sunday afternoon, “We know we’re uniquely positioned to help our members during this unprecedented health crisis.” “It’s why we’re taking this significant action to help ease the burden on seniors and others who are struggling right now. No American should be concerned about the cost of care when being treated for coronavirus.”
Cigna is covering those treatments that are covered under Medicare, or applicable state regulations like home oxygen, hospital admissions, albuterol nebulizers along with all prescription drugs covered under Medicare. The health care providers will be reimbursed by the company at Cigna’s in-network rates or as per the applicable Medicare rates.
The new policy of Cigna applies to its all US customers who are covered either under the insurer’s employer or union-sponsored group health plans, plans for US-based globally mobile individuals, Individual and Family plans, and Medicare Advantage plans. Cigna is also administering a waiver to self-insured group health plans, and encouraging employers to participate through these plans. The employers also have an opportunity to opt-out from providing waive off.
Humana waived off costs related to subsequent treatment for COVID-19 such as inpatient hospital admissions for people enrolled in Medicare Advantage plans, completely insured commercial members, and Medigap and Medicaid plans.
CVS Health earlier said, it will waive co-payments and other such out-of-pocket costs of commercially insured members of Aetna for their hospitalization due to coronavirus treatment. The U.S. health insurance companies across the country are making efforts by expanding coverage and reducing restrictions to gain healthcare access amid the coronavirus outbreak.