International Funds

INTERNATIONAL HEALTH FUND (IHF) OTC COVID-19 Testing Coverage Required

In an effort to expand access to and affordability of at-home COVID-19 tests, on January 10, 2022, the US Departments of Labor, Health and Human Services (HHS), and the Treasury released guidance requiring both non-grandfathered and grandfathered health plans to begin providing coverage of FDA approved over the counter (OTC) COVID-19 tests without cost sharing, beginning January 15, 2022.

Plans must cover these tests without prior authorization, or other medical management requirements, and without an order or individualized clinical assessment by a health care provider. This guidance applies to fully, partially or self-insured or individual plans. Plans are required to cover eight OTC COVID-19 tests per 30-day period (or per calendar month) for each individual enrolled life in the plan. These eight OTC tests are in addition to tests ordered and read by a healthcare professional.

The guidance provides two options for compliance, one of which provides a safe harbor. With the first option, plans would qualify for the safe harbor if they provide direct coverage of OTC COVID-19 tests through both its pharmacy network and a direct-to-consumer shipping option, and allows the plan to limit reimbursement of OTC COVID-19 tests purchased through non-preferred pharmacies or other retailers to no less than the actual price, or $12 per test, whichever is less. The second option is a non-safe harbor option. With this option, participants must be reimbursed in full for both in-network or out-of-network claims. Under this option, plans may not limit the amount reimbursed for any test.

The guidance was further updated on February 4, 2022. This updated guidance provides significant flexibility in how direct coverage access to tests can be provided, to include through network retail pharmacies, the plan, other retailers, in-house or other physical locations, as long as participants have adequate access to tests with no upfront out-of-pocket costs. Additionally, it further clarified that a direct-to-consumer shipping program is any program that provides direct coverage of OTC COVID-19 test without requiring the individual to obtain or purchase the test in-person, which can include online or by telephone, and can be provided through the pharmacy or other retailer, the plan itself, or any other entity (such as the PBM) on behalf of the plan. Plans will also not fall out of qualification for the safe-harbor if they have established a direct coverage program that meets the safe-harbor requirements but are unable to provide adequate access to due a supply shortage.

The combined guidance permits plans to take reasonable steps to prevent, detect, and address fraud and abuse, including establishing a policy that limits coverage of OTC COVID-19 tests from established retailers that would be expected to sell OTC COVID-19 tests, and can disallow reimbursement for tests purchased from a private individual (in-person or online), or from a seller that uses an online auction or resale marketplace. Plans can also require participants to complete an attestation form to indicate that the test is not for employment purposes.

It will be important for plans to take steps to work with their medical carrier or pharmacy benefit manager (PBM) to establish coverage for OTC COVID-19 tests to ensure compliance with these new regulations. For any questions regarding coverage of OTC COVID19 tests for IHF participants, contact the IHF Fund Office at 1-888-880-8222. //

INTERNATIONAL PENSION FUND (IPF) Watch For the IPF Retirement Blueprint

Despite the historic COVID-19 pandemic, the International Pension Fund (IPF) continues on a trajectory to full funding. How soon that goal is met depends on a number of variables, including hours worked and investment returns on IPF assets. Hours for 2021 were 2 percent higher than 2020. This trend combined with higher investment returns moved the projected year IPF reaches safe status from 2028 a year ago, to 2024 at the beginning of 2022.

The graph below (right) shows IPF annual hours all the way back to the great recession, during which IPF lost 40 percent of its reported hours. This effected hourly contributions, the funding level of the plan and investment returns.

PROJECTED FUNDING RATION & PPA STATUS

120%

100% SAFE STATUS ENDANGERED STATUS

80%

60%

40%

20%

0%

2021 2023 2025 2027 2029 2031 2033 2035 2037

HOURS REPORTED TO THE IPF (U.S., IN MILLIONS)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

0 20 40 60 80

WAYS TO CONTACT THE INTERNATIONAL PENSION FUND OFFICE

As the IPF continues to balance operational needs while keeping the health and safety of staff paramount, many of IPF staff continue to work a hybrid schedule of remote days during the week. During this time, the IPF encourage you to contact the Funds via the following email addresses. These emails are monitored by office staff including IPF Executive Director David Stupar and Deputy Director Michael Shelton. To reach the International Pension Fund, please use the email addresses below:

IPFPensionapplicantinfo@ipfweb.org

+ File a pension application + Updates to the status of applications that have been filed + Provide information/documentation that is required to complete the processing of the application

PensionEstimate@ipfweb.org

+ Request a formal estimate of IPF retirement benefits + Request a list of hours reported on their behalf by participating employers + Request an application for retirement + Pre-retirement death/survivor benefits inquiries + Any pre-retirement inquiries

PensionPayroll@ipfweb.org

+ Request pension verification or award letter + Request or submit a direct deposit form + Report the death of a pensioner + Request a copy of a 1099-R form or T-4A form (Canada) + Inquire regarding the option chosen at retirement and benefit amount

To contact the BACSave International Retirement Savings Plan (Annuity) or 401k Plan, please email:

RSPwithdrawalapplicantinfo@ipfweb.org

+ Request an application for withdrawal + File an application for withdrawal + Provide information to complete the application process You can also contact the International Pension Fund office via the toll-free number at 1-888-880-8222. //