There is so much changing especially during this time when it comes to the Consolidated Appropriations Act of 2021, additional Covid-19 Relief, No Surprise Act and Hospital Transparency. We will go through each topic and what they mean for you.
Consolidated Appropriations Act of 2021
Also known as the CAA Act. It passed on December 21, 2020. This includes $900 billion in COVID-19 relief. Employers can choose to extend the FFCRA Emergency Paid Sick Leave and Emergency Family Leave benefits, but it’s not mandatory.
Covid-19 Relief
Economic relief is a stimulus checks of $600 for individuals making up to $75,000 per year. $1,200 for couples making up to $150,000 and an extra $600 for dependent child that are under 17 years old. Payments would be based on 2019 taxes. If you haven’t received your check yet go to the IRS website for assistance. We do have paid leave credits, it extends the credits for paid sick and family leave provided under the second covid19 relief package through March 31, 2021. However, it does not extend FFCRA. There is a $284.5 billion for the first and second forgivable Paycheck Protection Program (PPP) loans. Small business can receive a second PPP loan of they have less than 300 employees and can demonstrate a revenue reduction of 25%. Maximum loan amount is $2 million. Also, premiums for dental and vision insurance ate covered under payroll costs.
No Surprises Act
This is a vital part of the CAA. Doesn’t go into effect unto 2022. This is an act that applies to emergency and post-stabilization care and nonemergency care in in-network facilities. It applies to fully insured as well as self-funded plans. This also includes air ambulance services and an advisory committee is to study ground ambulance services. This will limit a consumer out of pocket max to their in-network cost sharing, which includes deductibles and copays. So, this is consumer protection at its best. On top of that providers and facilities cannot balance bill.
Hospital Transparency
Went into effect on January 1st. This is very different from the no surprise act. This makes it very clear that each and every hospital in the US will be required to provide a clear, accessible pricing information online about the items and services they provide.
