COVID-19 medical bills are expected to increase next year. During the height of the pandemic, insurers waived the costs of certain COVID-19-related services, such as emergency room (ER) copayments, hospital stay deductibles and testing charges. For example, screening procedures were primarily free during the pandemic, and now they could cost upwards of $200.
Consider the following ways to control your costs:
Understanding Individual Coverage Health Reimbursement
Arrangements
An individual coverage health reimbursement arrangement (ICHRA) uses funds from your employer to help pay for certain medical expenses. To qualify for an ICHRA, you enroll in individual health coverage using a Health Insurance Marketplace, a private insurer, Medicare or another method. In other words, if you’re enrolled in an employer’s group health plan, you don’t qualify for an ICHRA. Here’s how an ICHRA works:
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