Yep, We’re Still Having a Public Health Emergency

Health and Human Services Secretary Alex Azar has officially extended the COVID-19 public health emergency ahead of its expiration on Saturday, July 25. The extension is for another 90 days.  There are many ramifications, including continuing requirements that insurers cover COVID testing without cost-sharing, telehealth waivers and the 20% add-on Medicare payment for treating coronavirus inpatients.

One80 Launches Pandemic Protector

One80 Intermediaries announced the launch of Pandemic Protector, a policy that provides non-damage business interruption insurance for loss of gross profit due to an epidemic and/or pandemic outbreak. From the company:

[Pandemic Protector] will cover future outbreaks of both known and unknown diseases. The current outbreak of Covid-19 is not insurable retrospectively, but comparable future outbreaks are. With a low minimum premium, this customized policy provides broad coverage with a flexible definition of the epidemic triggers to meet insureds’ bespoke needs. The coverage also provides access to specialized experts to assist in outbreak mitigation and crisis management.

Pandemic Protector is underwritten in the London market and exclusively available from a national wholesale broker and program manager headquartered in Boston.  The coverage is designed for all companies of all sizes – accessible for small to mid-sized businesses due to the lower limit offerings, and suitable for Fortune 500 companies as Pandemic Protector can offer up to $100 million in total limits. Pandemic Protector is available to public and private sector entities of all sizes, and across most industries, in all 50 U.S. states.

HEALTH

California to Give Consumers More Time to Sign Up for Health Care Coverage by Extending Special-Enrollment Deadline

Due to the recent surge in COVID-19 cases throughout the state, Covered California announced that it would give consumers additional time to sign up for health care coverage during the pandemic by extending the current special-enrollment deadline to the end of August. More info at Covered California.

Brian Sullivan Likely to Remain LAAHU Prez

It appears current LAAHU president Brian Sullivan will be serving another term. Cal Broker was told that Peter Seibold, the president-elect, recently informed the board he will not be stepping into the position of president. No official announcement has come from LAAHU and the website still names Seibold as president-elect, however.

Medicaid Managed Care & The Pandemic

Medicaid managed care will continue to play a key role in healthcare throughout the pandemic. In many states, including California, the pandemic has brought changes in Medicaid eligibility, scope of benefits and provider payment arrangements. The Commonwealth Fund has teased out what this means to healthcare and how states are using Medicaid on the front lines of the pandemic. Take a look here.

EMPLOYEE BENEFITS

2020 DMEC Virtual Annual Conference

Get set to learn how COVID-19 has changed work life and how that impacts absence and disability (including return-to-work) and the laws and regulations that govern this—FMLA, ADA, state bereavement leave laws and more. How employers are and will adjust is the focus of the upcoming 2020 DMEC Virtual Annual Conference. Employer representatives, HR attorneys and other experts will provide the latest insights, legal updates and informed forecasts about the shape of the post-pandemic workplace.

The Conference will run from 8 a.m.-2:30 p.m. Pacific on four Wednesday: August 5, August 12, August 19, August 26

Each day will include three to four educational sessions and an “Ask the Experts” Q&A session.  View the agenda and register here. Registration includes links to recordings, PowerPoints and more

FINANCIAL PLANNING

New Study: Majority of People Reviewing their Financial Planning in Wake of COVID-19

New research from data analytics firm Boobook suggests that COVID-19 has led to a significant number of people in the UK and US saving more than they had previously during lockdown and the vast majority of those savers are taking stock and reviewing their long terms savings.

Key findings of the study include:

• Two thirds of people in the UK and US plan to review their savings and investments in the next six months
• Three in five in both the UK and US are planning on reviewing their financial planning (setting goals for what they want to achieve for their money) in the next six months
• A third of people in the UK and half in the US are planning on reviewing their retirement plan in the next six months
• More than a third of people in the US and two in five in the UK plan to change insurance policies in the next six months
• 1 in 5 people in the US and almost a third of those in the UK are saving more during lockdown than they had previously
• 43% of people in the UK and 53% of those in the US are planning on keeping their savings for long term investments and retirement

MEDICARE

Two Important Virtual Events Coming Up

We have two big Medicare events coming up. Please consider attending both and consider sponsorship opportunities, if that’s for you. It’s never a bad idea to support the industry, log on and learn!

 

 

The Senior Summit (a collaboration of Inland Empire, Orange County and San Diego Associations of Health Underwriters ): The Senior Summit will be held virtually on September 1-3. Certifications, product trainings, CEs, guest speakers, industry experts, as well as a virtual exhibit hall and more! Price: $49 AHU Member or Non-Member (3 Day Admission). Deadline to Register: August 28. Info and registration here.

 

• IICF Foundation Women in Insurance Regional Forums Rescheduled
  

Insurance Industry Charitable Foundation has rescheduled the Women in Insurance Regional Forums: