New COVID-19 Relief Law Aims to Ease the Health Insurance Crisis

Even by U.S. government standards, $1.9 trillion is a lot of money. But that’s the money value of the COVID-19 relief under the American Rescue Plan Act of 2021 (ARPA) signed by President Biden on March 12. ARPA is an ambitious law that tackles the nation’s economic, healthcare, insurance and other challenges across a broad front. Key elements include: $1,400 stimulus checks for most adults and their dependents; $300-per-week unemployment supplements; Increased child tax credits; and Money for vaccination programs, state and local governments and schools. The aspect of ARPA of particular significance for labs and other providers are its measures to address the nation’s health insurance crisis. Here’s an overview. COVID-19 & the Health Insurance Crisis In addition to wreaking economic havoc from coast to coast, the COVID-19 crisis exposed and exacerbated fundamental problems in the U.S. healthcare insurance system. According to the most recent National Center for Health Statistics (NCHS) report, some 30 million Americans were uninsured between January and June 2020. In all too many cases, loss of employment also meant loss of health insurance. Even the fortunate ones with Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage weren’t spared from this one- two-punch to the solar plexis…