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Insurers have just weeks to comply

Serious \ businessmen sit in office look at laptop screens.
fizkes / Shutterstock

On July 19, the federal government told health insurers they had 60 days to start covering all costs of receiving either of the approved HIV-prevention pills — namely, Truvada and Descovy.

That’s everything from the initial doctor’s visit to all follow-up bloodwork and medical appointments.

Insurance providers had already been required to stop charging out-of-pocket fees for the medication by Jan. 1.

Between 2015 and 2019, as the use of PrEP (pre-exposure prophylaxis) became more widespread, the U.S. saw an 8% drop in the annual rate of HIV transmissions, the CDC says.

But the uptake hasn’t been as fast as it could be. The CDC once estimated that 1.1 million Americans could benefit from the drug; it reported in May that some 285,000 people are actually using it.

Stop overpaying for home insurance

Home insurance is an essential expense – one that can often be pricey. You can lower your monthly recurring expenses by finding a more economical alternative for home insurance.

SmartFinancial can help you do just that. SmartFinancial’s online marketplace of vetted home insurance providers allows you to quickly shop around for rates from the country’s top insurance companies, and ensure you’re paying the lowest price possible for your home insurance.

Explore better rates

Access may get harder for the uninsured

Blurry clinic
CCL STUDIO / Shutterstock

The federal government’s decision is great news for those with health insurance coverage who may have held off on getting a prescription because of the additional costs.

At the same time, accessing PrEP may soon become much more difficult for people without insurance. Gilead, the manufacturer of both Truvada and Descovy, is planning policy changes next year that are expected to drain funding from frontline clinics serving low-income communities.

“It’s going to put a lot of our programs in serious harm’s way at best,” Jim Pickett, senior director of prevention advocacy and gay men’s health at AIDS Foundation Chicago, told NBC. “Some of them will be decimated and destroyed.”

Other treatments covered free of charge

Male patient having consultation with doctor.
Chinnapong / Shutterstock

The new requirements for health insurers come courtesy of an “A” rating for PrEP by the U.S. Preventive Services Task Force.

Under the Affordable Care Act, any preventative service granted an A or B rating by the task force must be totally covered by almost all insurers for the good of the country.

Other procedures free of charge for people with a health insurance plan include:

  • Screening for depression, diabetes, cholesterol, obesity, various cancers, HIV and sexually transmitted infections.
  • Counseling and medication to help people off drugs and tobacco and embrace healthy eating.

Stop overpaying for home insurance

Home insurance is an essential expense – one that can often be pricey. You can lower your monthly recurring expenses by finding a more economical alternative for home insurance.

SmartFinancial can help you do just that. SmartFinancial’s online marketplace of vetted home insurance providers allows you to quickly shop around for rates from the country’s top insurance companies, and ensure you’re paying the lowest price possible for your home insurance.

Explore better rates

If you need help covering medical costs

Two men sitting on a couch, looking seriously at a smartphone.
Gorodenkoff / Shutterstock

Unfortunately, health insurance itself is far from free, but you may have a few options to reduce your premiums.

In addition to choosing a higher deductible or higher copays, your most powerful tool with marketplace plans is simply shopping around. The Insurance Information Institute recommends comparing at least three quotes to ensure you don’t end up overpaying.

That’s easy enough to do using a quote comparison site. All you’ll have to do is answer a few questions and then review your options.

You can use the same approach to slash your other insurance premiums. Switching to a different auto insurance policy could reduce your costs by up to $1,000 a year. And you could trim a similar amount from your homeowners insurance bill, as well.

Finally, if you can afford it and you have dependents who rely on your income, consider pouring any excess savings into an affordable life insurance policy. It's much better to take out a policy while you're younger and healthier, as you're less likely to be denied coverage and more likely to lock in a low rate.

Unexpected vet bills don’t have to break the bank

Life with pets is unpredictable, but there are ways to prepare for the unexpected.

Embrace Pet Insurance offers coverage for treatment of accidents, illnesses, prescriptions drugs, emergency care and more.

Plus, their optional wellness plan covers things like routine vet trips, grooming and training costs, if you want to give your pet the all-star treatment while you protect your bank account.

About the Author

Sigrid Forberg

Sigrid Forberg

Associate Editor

Sigrid’s is Moneywise.com's associate editor, and she has also worked as a reporter and staff writer on the Moneywise team.

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