There are many concerns that cause top executives to lose sleep, but the events of the past couple months have tested business owners and decision makers in ways that can only be described as unprecedented.

The uncertainty surrounding the Coronavirus coupled with a burning desire to get back to business have created an increasingly dynamic and stressful time. From manufacturers scrambling to provide healthcare workers with PPP to non-essential businesses that have had to furlough workers, most CEOs are faced with the biggest challenges of their careers. And while employees are able to share their concerns, leaders must have the courage to hide theirs. Real leaders are able to endure intense pressure while making sure the people around them don’t sense it.

Ensuring Safety & Access to Care

The reality is that in the face of this pandemic, true leaders are preparing rather than panicking. After taking steps to keep people safe, they’re thinking and planning for a future that will likely be very different. Leaders know that staying calm is critical to sound decision making. Clear thinking helps them communicate with confidence and listen in a way that calms other’s fears. In a crisis, taking the time to listen can make all the difference to a worker finding it really difficult to cope.

While some insurance carriers are waiving member copays, co-insurance and deductibles for COVID-19 diagnostic testing and treatment, some states are mandating it. While state mandates don’t apply to self-funded plans, some plan sponsors have chosen to provide COVID-19 patients with first dollar coverage. These actions require the approval of your stop loss carrier since related claims may exceed your stop loss deductible. A written and executed plan amendment is also required. As always, we stand ready to help with these requirements as well as the expansion of HDHP, HSA and FMLA benefits included in the Families First Coronavirus Response Act. We hope you will contact us if your plan is facing any of these issues.