Congress recently passed a $1.7 trillion omnibus package which includes two provisions regarding telehealth and long-term care. The package allows individuals to use existing retirement accounts to pay up to $2,500 each for long-term insurance without a 10% early withdraw penalty tax.
In addition, they have included a two-year extension of telehealth-related “regulatory flexibilities”, known as the CARES Act, that were put in place during the pandemic and were set to expire at the end of 2022.
A bipartisan deal regarding the Medicaid policy that increased funding and preventing states from removing people from Medicaid was given a new end date of April 1, 2023. This change will impact close to 85 million people enrolled in Medicaid.
Substance abuse prevention and expanding access to mental health treatment was also included with a $1.5 billion in state grants.Navigating the complex world of health insurance can be daunting. The Ark Insurance Solutions team has the skill and experience to guide you. We’ll help you compare health plans to make the best decision based on your unique circumstances and budget. Give us a call at 801-901-7800 or click here to schedule an appointment with us.