EMPLOYEE BENEFITS: COVID-19
"ATLAS INSURANCE CONTINUES
TO GUIDE EMPLOYERS REGARDING
THEIR RESPONSIBILITIES,
COVERAGES, AND EXPOSURES
DURING THE PANDEMIC..."
EMPLOYEE BENEFITS IN
THE AGE OF COVID-19!
T
he coronavirus has forced
employers and employees
into unprecedented times.
Our federal government
is attempting to quickly
deliver financial relief to companies and
individuals with the passage of emergency
legislation. Here’s a brief recap of the
relief programs enacted by the Trump
Administration in recent weeks, as of this
writing:
1) On March 6, 2020, an $8.3 billion
emergency funding bill was signed into
law. The bill allocates over $3 billion
for vaccine research and development
and over $800 million for research
into treatments. Other aid recipients
include the Centers for Disease Control
and Prevention, the US Agency for
International Development, and state and
local public health efforts.
2) On March 18, 2020, President Trump
signed the Families First Coronavirus
Response Act (FFCRA). The Act is an
economic stimulus plan that affects
coverage and cost sharing for COVID-19
testing, provides expanded federal
family and medical leave, and includes
a new federal law for paid sick leave.
The law requires insured group health
4
plans to provide coverage for COVID-19
screenings, urgent care center visits, and
related emergency room visits.
3) On April 2, 2020, the Coronavirus Aid,
Relief, and Economic Security (CARES)
Act was enacted to broaden benefits for
those who are newly unemployed. The
Act provides assistance for individuals
that are self-employed, seeking part-time
employment, or who would not normally
qualify for federal or state unemployment
benefits.
4) On April 21, 2020, the US Senate
passed a new $480 billion round of
fiscal stimulus, including an additional
$310 billion for the Paycheck Protection
Program to help small businesses.
There are many specific provisions
covered in each of these bills, including
individual checks to taxpayers, small-
business tax credits and loan forgiveness
programs. Additional guidance and
required notices can be found on our
website: www.atlasinsurance.com
PRACTICAL GUIDELINES FOR EVERY
EMPLOYER
Atlas Benefit Consulting continues
to guide employers regarding their
responsibilities provide coverage options
and resources for employees during
the pandemic, and has put together
a checklist that may prove helpful in
navigating this uncharted territory. Here
are some of our top recommendations:
1) Review leave policies to determine how
they will apply to employees who are sick
or undergoing testing, or for those that
need to take time off to care for children
due to school/day care closure. Consider
increased leniency to better protect your
workforce.
2) Revisit company policies for attendance,
schedules, and telework to ensure
compliance with CDC guidelines.
3) Review your benefit programs to
determine where and how changes can
be made and how reduction in hours may
affect premiums and coverage.
4) If employees have been furloughed,
keep in mind how they will be off-boarded
as it will impact employee retention.
5) Help employees stay connected to their
co-workers and the company.
6) Keep them in the loop on new
developments and how your business is
responding to the pandemic.