Extension to the Suspension of Sequestration for the Retiree Drug Subsidy Program
Starting in March 2020, through the initial provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the RDS has suspended the 2% sequestration reduction for costs incurred from May 1, 2020 – December 31, 2020 to temporarily increase subsidy payments to plan sponsors. Now, through the Consolidated Appropriations Act, enacted on December 27, 2020, the suspension of the 2% sequestration reduction will be continued until March 31, 2021…continue reading