Insurance companies and health plans are required to cover 8 free over-the-counter at-home tests, per covered individual, per month. That limit applies to people getting tests without medical orders, with medical orders there is no limit on reimbursement.
Tests may be packaged individually or with multiple tests in one package. Plans are required to cover 8 tests, per covered individual, per month, regardless of how they are packaged and sold.
Under most plans you will be able to get tests for free from local pharmacies or stores. If your plan offers this, you can still purchase tests yourself online or in stores and insurers must reimburse you for the cost of the test, up to $12 per individual test.
If your plan does not offer free tests from local pharmacies or stores, then there is no limit for how much you can be reimbursed for your test, up to the full price paid. Presumably that would mean you can even get reimbursed for eMed COVID telehealth tests which are valid for travel.
You can call your insurer to see if they will have free tests available from local pharmacies or stores on 1/15 to determine how much you can be reimbursed for your tests.
If you are a family of 6, starting on 1/15 you can make a monthly purchase for 24 packs of these 2 pack COVID tests for $17.98 each from Amazon. That’s a total of $431.52 plus tax that your private insurance will have to cover in full without hitting your deductible. If your total with tax is $470, that’s a potential 2,350 Chase Ultimate Rewards points (worth $35 or more) that you can get every month by using your Chase Ink Cash Card to buy gift cards for Amazon at office supply stores to purchase these tests.
You can then submit your receipts with your private insurance provider for reimbursement. Insurers are not allowed to design the reimbursement process in a ways that delays reimbursement. You can call your insurer to learn how to submit receipts for reimbursement.
I just wonder what insurance premiums will look like at the next renewal?