What Can Be Done with Benefits?
- Temporary Layoffs
- Do you want to continue some or all benefits to employees ?
- For how long? 3 or 6 months ?
- What classes of employees do you want to offer this. All employees in same class must be treated the same
Options to lower or stop premiums ?
- Defer premiums for 1 or 2 months and maintain coverage .
- Suspend parts of the plan such as dental . Dental cost is approx. 20% to 40% of total cost
- Offer Flex Dollars to top up any dental or ortho costs if dental is suspended
- Offer Lifestyle style dollars for specific wellness items
Paramedical Services – are available virtually and many insurers offer links to access
EAP – provide employees with information and links or set up an EAP plan
More great tips for employers and employees alike in the webinar video, or in the downloadable slide deck listed above!