Anthem offering $2.5B in financial assistance to members, providers impacted by COVID-19

Anthem will make $2.5 billion in financial assistance available to customers and providers as they weather the coronavirus pandemic, including premium credits for cash-strapped members and funding to assist docs in standing up telehealth programs. 

Anthem will make premium credits of between 10% and 15% available to select individual market plans and fully insured commercial plans. Members enrolled in standalone and group dental plans will receive a 50% credit, Anthem announced Thursday. 

The credits will be provided in July, Anthem said. 

The insurer also said it is working with employer clients to offer special payment arrangements to ensure they can continue to provide coverages to workers during the pandemic. 

“Consumers, care providers and our local communities are all feeling the impact of the pandemic and the current social unrest,” Anthem CEO Gail Boudreaux said in a statement. “We are deeply committed to serving those who count on us as their healthcare partner, now more than ever.” 

Anthem is also extending cost-sharing waivers it’s rolled out under the pandemic. Cost-sharing for in-network COVID-19 treatment, applicable to Medicare Advantage, individual market and fully insured employer plans, will be offered through Dec. 31. 

In addition, Anthem will continue to allow waive cost-sharing for telehealth visits, including telephonic visits, for medical and mental health needs in its Medicare, Medicaid, individual plans and fully insured employer plans through Sept. 30. 

Anthem also added that it is offering funding to help bolster providers’ telehealth capabilities and to assist in securing necessary personal protective equipment. 

To ease the administrative burden, Anthem said it would suspend prior authorization requirements for items crucial to treating COVID-19, such as respiratory devices, and will extend all prior authorizations on elective inpatient and outpatient care that were issued before May 22, to allow for more flexible scheduling.