Telehealth Coverage and Payment Parity Act This bill requires private health insurance plans to cover certain services provided via telecommunications systems (i.e., telehealth). Specifically, the telehealth services must be deemed medically necessary by a health care provider and covered under the plan if provided in person. Plans must apply the same cost-sharing and reimbursement amounts that would otherwise apply to such services and may waive cost-sharing requirements for any services to diagnose or treat COVID-19, including via telehealth.