WBA Insurance Services offers relief options

While the coronavirus hasn’t hit the banking industry as hard as others such as retail and restaurants, banks across Wisconsin are still grappling with how to best protect their staff during this crisis. Most have had to get creative with staffing and pay as employees rotate coming into the office and figure out how to use leave and vacation time appropriately.

WBA Employee Benefits Corporation (EBC), part of WBA Insurance Services, offers a streamlined source of relief. We are proud to partner with insurance carriers who have stepped up to help their customers during this pandemic. In general, employees impacted by the virus will continue to be eligible for coverage so long as premiums continue to be paid.*

Below is a summary of how each WBA Insurance Services carrier is handling coverage in situations of layoffs or reductions in hours.

Medical:

WPS | www.wpsic.com
WPS will allow employers to retain employees and their dependents on their group plans during temporary layoffs or temporary reductions in hours, as long as the monthly premium payment is received and at least one employee of the group remains actively at work.

UHC | www.myuhc.com
UnitedHealthcare is temporarily relaxing its requirement that employees be actively working to be eligible for coverage and will allow employers to cover the reduced hour employees, as long as the monthly premium is paid.

Dental:

Delta | www.deltadentalwi.com
If an employee’s hours are reduced to a level below the member definition, Delta Dental will consider them eligible for coverage as long as the employer does and premium payments are received.

Life and Disability:

Lincoln Financial Group | www.lfg.com
As long as the premium is paid, employees can maintain coverage as though they are at work through May 1, 2020, or in accordance with the Continuation provisions in their policy if they are more generous.

Vision:

Superior Vision | www.superiorvision.com
Superior Vision will consider member coverage/benefit extension on a case-by-case basis, or as required by state or federal mandate. In addition, coverage is extended to furloughed employees so long as the premium is paid.

National Vision Administrators (NVA) | www.e-nva.com
NVA will allow employees to remain on the coverage as active as long as premiums continue to be paid.

WBA AHP

In addition, the WBA member banks currently benefitting from WBA’s AHP plan with UnitedHealthCare (UHC) will see additional cost-savings during this crisis. UHC is waiving member cost-sharing for the testing and treatment of COVID-19 through May 31, 2020, as well as for non-COVID-19 telehealth visits. UHC also extended its special open enrollment period to April 13 and added a “buy down” option to allow banks to opt for a leaner plan in order to streamline operational costs. Visit www.uhc.com/employer/faq-employer for more information.

If you have any questions about your specific coverage, please contact WBA Insurance Services and WBA Employee Benefits Corporation. Brian, Kathy, and Racheale are happy to help!

* Individual carriers are each approaching their response differently, so banks are encouraged to check their specific carriers’ websites directly for updates (website addresses are included in the above article).

Lund is WBA executive vice president – chief of staff and president of EBC and MBIS.