Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

U.S. insurers must cover eight at-home COVID tests per person monthly -White House

Published 01/10/2022, 04:54 PM
Updated 01/10/2022, 07:50 PM
© Reuters. FILE PHOTO: A woman takes a coronavirus disease (COVID-19) test at pop-up testing site in Brooklyn, New York, U.S., January 7, 2022. REUTERS/Brendan McDermid

WASHINGTON (Reuters) - Insurance companies will be required to cover eight over-the-counter at-home coronavirus tests per person each month starting Saturday, the Biden administration said, expanding access to highly sought-after kits as Americans grapple with a surge in coronavirus cases.

The White House also said on Monday that there is no limit to the number of COVID-19 tests, including at-home tests, that insurers must cover if they are ordered or administered by a health care provider.

The measures are part of a bid by President Joe Biden to make testing more widely available to Americans facing soaring coronavirus cases due to the highly infectious Omicron variant.

In a speech in December, Biden outlined plans to distribute 500 million at-home coronavirus test kits and stand up new federal testing sites, adding to the 20,000 already in existence. However, experts decried the announcement as "too little too late" amid testing shortages nationwide.

White House Press Secretary Jen Psaki said on Monday that Americans should be able to order the tests online later this month, noting that all contracts for 500 million rapid tests should be awarded over the next two weeks. The first two were signed last week, with two more announced on Monday.

Under the insurer coverage plan announced Monday, the administration said that insurers are still required to reimburse tests purchased by consumers outside of their network, at a rate of up to $12 per individual test.

It was not immediately clear what incentives were offered to insurers to agree to the plan. The Department of Health and Human Services did not immediately respond to a request for comment.

© Reuters. FILE PHOTO: A woman takes a coronavirus disease (COVID-19) test at pop-up testing site in Brooklyn, New York, U.S., January 7, 2022. REUTERS/Brendan McDermid

On Monday, the Defense Department said it had awarded contracts to Atlantic Trading, LLC, of Austin, Texas, and Medea Inc. of Pleasanton, California, for a combined total of 27 million at-home test kits.

The contract awards bring the total of test kits ordered to over 50 million, a White House official said.

Latest comments

president has no such authority, unless he is dictator.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.