On March 27, 2020, the U.S. Congress passed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) to provide $2.2 trillion in federal funding to address the COVID-19 crisis. The President signed the CARES Act into law the same day.
Following and building upon two other federal laws that were recently enacted to address the pandemic—the Families First Coronavirus Response Act (FFCRA) and an emergency funding bill—the CARES Act makes a variety of changes affecting health plans.
Health Plan Coverage Provisions
The CARES Act includes provisions to:
- Expand the types of coronavirus testing that all comprehensive private health insurance plans must cover without cost-sharing or barriers under the FFCRA;
- Accelerate the process that would make permanent the requirement for health plans to cover preventive services and vaccines related to COVID-19;
- Allow telehealth and other remote care services to be covered under a high deductible health plan (HDHP) before the deductible is met, without affecting the HDHP’s compatibility with Health Savings Accounts (HSAs) (applicable for HDHP plan years beginning on or before Dec. 31, 2021); and
Treat additional over-the-counter medications, along with menstrual care products, as qualified medical expenses that may be paid for using HSAs or other tax-advantaged arrangements.
COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION CLICK, HERE.
As part of sweeping legislation signed into law by President Trump on March 18, 2020, two laws were enacted that provide workers with paid leave for reasons related to the coronavirus (COVID-19) pandemic. One of the new leave provisions, the “Emergency Family and Medical Leave Expansion Act,” allows 12 weeks of partially compensated FMLA leave to care for a child whose school or child care facility has been closed due to COVID-19. The leave applies only to workers who have been employed by their current employer for 30 days.
The other new law providing employee leave, the “Emergency Paid Sick Leave Act,” requires employers to provide 80 hours of paid sick time to employees in specified circumstances, including:
- A quarantine or isolation order for the employee or someone the employee is caring for, or medical advice to self-quarantine;
- When the employee has symptoms of COVID-19; or
- When the employee’s child’s school or child care facility is closed.
Employers with 500 employees or more are exempt from the laws, and employers may exclude employees who are health care providers and emergency responders. The legislation also allows for future regulations
exempting businesses with fewer than 50 employees from providing leave for child care reasons if the leave would jeopardize the viability of the business.
The laws take effect within 15 days of passage; the leave benefits will expire on Dec. 31, 2020. Employers should familiarize themselves with the new leave requirements to ensure compliance.
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Know Your Insurance
The best time to learn about what’s included in a basic homeowners insurance policy is before you have a claim. We’ve gathered the answers to the most common “Am I covered if…” questions about your homeowners insurance policy to help you to minimize any coverage surprises.
What property and perils are excluded from my policy?
Typically, coverage does not apply to damage caused by flood, surface water, water that backs up through sewers or drains, earth movement, nuclear damage, war, etc. Personal liability and medical payments do not apply to the operation, ownership, use, etc., of any aircraft, automobile, RV, water craft powered by more than 50 horsepower motor; bodily injury or physical damage caused by an intentional act of the insured.
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Compliance Issues for Employers
As the number of reported cases of the novel coronavirus (COVID-19) continues to rise, employers are increasingly confronted with the possibility of an outbreak in the workplace.
Employers are obligated to maintain a safe and healthy work environment for their employees, but are also subject to a number of legal requirements protecting workers. For example, employers must comply with the Occupational Safety and Health Act (OSH Act), Americans with Disabilities Act (ADA) and Family and Medical Leave Act (FMLA) in their approach to dealing with COVID-19.
There are a number of steps that employers can take to address the impact of COVID-19 in the workplace. In addition to reviewing the compliance concerns outlined in this Compliance Bulletin, employers should:
• Closely monitor the CDC, WHO and state and local public health department websites for information on the status of the coronavirus.
• Proactively educate their employees on what is known about the virus, including its transmission and prevention.
• Establish a written communicable illness policy and response plan that covers communicable diseases readily transmitted in the workplace.
• Consider measures that can help prevent the spread of illness, such as allowing employees flexible work options like working from home. are enforced.
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BHI offers an online benefits administration website complimentary for our clients. Watch this video to learn more about how Employee Navigator can help your company!
If you are a current client and need to get your company information uploaded to Employee Navigator, complete the Employee Navigator Enrollment Census and email to Logan Worsh.
For any questions or more information about Employee Navigator, contact Logan Worsh.
lworsh@bhi365.com
302-995-2248
Top 10 Ways To Control Your Mod
Your experience modification factor, or mod, is an important component used in calculating your workers’ compensation premium. If you can control your mod, you can lower your price — so we’ve gathered top tips to help you impact your bottom line.
- Investigate accidents immediately and thoroughly; take corrective action to eliminate hazards, and be aware of fraud.
- Report all claims to your carrier immediately. Alert the carrier to any serious, potentially serious or suspect claims. Frequently monitor the status of the claim, and communicate with the adjuster to resolve them as quickly as possible.
- Take an aggressive approach to providing light duty to all injured employees upon their release from treatment. Supervise light duty employees to ensure their conformance with restrictions.
- In serious cases that involve lost time, communicate with the claims adjuster to demonstrate your interest in returning the injured employee back to gainful employment.
- Set safety performance goals for those with supervisory responsibility. Success in achieving safety goals should be used as one measure during performance appraisals.
- Develop a written safety program, and train employees in their responsibilities for safety. Incorporate a disciplinary policy into the program that holds employees accountable for breaking rules or rewards them for correctly following safety procedures.
- Frequently communicate with employees, both formally and informally, regarding the importance of safety.
- Make safety a priority – senior management must be visible in the safety effort and must support improvement.
- Evaluate accident history and near-misses at least monthly. Look for trends in experience, and take corrective action on the worst problems first.
- Talk to your BHI Advisor, Account Manager, or Director of Risk Control to ensure success.
John Boykin
President & CEO
BHI
Business owners have so much on their plate these days, and many times the last thing on their mind is insurance. As a business owner, what do you think about when someone says the word “insurance”? Does it bore you? Do you roll your eyes? When was the last time you reviewed your insurance portfolio? Even the word itself has a bit of an outdated and traditional undertone. We get it, and we’re doing everything we can to change the market and our client and prospects’ antiquated outlook on “insurance.” We believe it’s one of the most important pieces to put in place for business continuity and not worthless paper stacked on a shelf that you hope you never have to use!
Our Executive Learning Series is back! Monthly, our Human Resources department hosts an informative discussion on common Human Resources topics complete with a complimentary lunch. This is a chance to meet individuals from other companies in our community and to learn about many workplace topics. We hope to see you there!
Continuity is critical in business, and there are few things more important than continuous revenue and cash flow, particularly for small to medium-sized organizations. In fact, just one brief business interruption can be incredibly costly for an organization, often leading to serious reputational damages or long-term closures.
That’s where business interruption insurance can help. This form of coverage provides protection against a variety of common interruptions, including natural disasters, equipment damage, and vandalism. The following are some other major benefits of business interruption insurance.
Revenue
In the event of a disruption, business interruption insurance provides coverage for income your business would have earned during a closure period if it had been operating normally.
Rent or Lease Payments
Even if your premises are unusable following a disaster or other event, many leases still require that you make payments. Business interruption insurance allows you to continue making rent or lease payments, even while your business is not operating.
Relocation
In the event that your primary location is unusable following a disaster or other event, you will likely have to relocate in order to remain open and continue generating revenue. Business interruption insurance can cover the expenses of moving your business to a temporary location and may include both moving and rent costs.
Employee Wages
If you are unable to operate, it is likely you will not be able to continue paying employees. Business interruption insurance can help you avoid losing staff while you’re closed by ensuring that you make payroll. This is especially important, as finding new employees is often more expensive than keeping them.
Loan Payments
If you have an outstanding loan, you will need to continue to make payments even if your business isn’t fully operational. Business interruption insurance will ensure you never miss a payment until you are fully operational again.
Want to Learn More?
Business interruption insurance is designed to give businesses access to the assets they need when they need it most. However, these policies can be complex, and it’s important to work with your insurance broker closely when seeking coverage. To learn more contact us today.