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To keep you current on information critical to your business, below are updates and resources to support your sales and service efforts. To access our full library, visit the News and Industry Perspectives site.
California is gradually reopening for business. On May 4 Governor Newsom announced the state government’s plan, including allowing the limited reopening of lower-risk businesses that began May 8, 2020.
Many businesses are understandably in “defense mode” right now. But new insights from Silicon Valley Bank remind us that recessions are historically periods of increased new business formation.
Adversity Drives Innovation
With an ample supply of talented workers, lower opportunity costs, and the potential to ride the next wave of economic growth, recessions provide a great opportunity for entrepreneurs.
Annual company formation reached a record high during the years following the 2007/08 Great Financial Crisis (GFC).
Around 41% of today’s unicorns were founded during or in the aftermath of the GFC.
Despite the current economic climate, growth-focused brokers will want to ensure they are focused on serving the future benefits needs of these new businesses. Learn more.
UnitedHealthcare has announced a Special COVID-19 Dental and Vision Enrollment Opportunity to enroll employees who previously did not enroll in dental and/or vision coverage. This one-time opportunity will extend from May 18 - May 29, 2020 (June 1 effective date) and will be limited to employees who previously waived coverage or did not elect coverage for themselves or their dependents. Get the details.
COVID-19 has made it necessary for most dental offices to temporarily close for non-emergency services. In response, Principal has announced the following actions:
Dental Premium Credit
Fully-insured dental groups (both contributory and voluntary) will receive a 10% premium credit on their June through October 2020 invoices. The premium credit calculation is based on the prior month's billed premium.
PPE Payments to In-Network Providers
A $7 payment for personal protective equipment (PPE) will be paid to in-network providers with each member's dentist visit from June 1 through December 31, 2020. This payment will help offset the additional expenses for dental offices to maintain up-to-date infection control procedures and to reduce the risk of exposure to members. Additionally, this payment may help decrease the member's out-of-pocket costs.
Boost sales by leveraging Principal’s promotions for new and existing clients (cases under 200 lives) with effective and renewal dates of September 1, 2019 - August 1, 2020.
New Business Promotions
Start-Up Dental Discount: 5% without orthodontia and 3% with orthodontia.
Extended Rate Guarantee Program:
Free 2-year rate guarantee on dental and short-term disability (STD) benefits for three lines of coverage.
Free 3-year rate guarantee on group term life and long-term disability (LTD) benfits for three lines of coverage.
Existing Business Promotions
Extended Rate Guarantee Program: Free 2-year rate guarantee when adding a coverage line to existing coverage.
IN THIS ISSUE
Reopening Businesses:
Broker and Employer
Resources ---------------------------------
New Business Formation
During Downturns ---------------------------------
UnitedHealthcare
Special Dental and
Vision Enrollment
Opportunity ---------------------------------
Principal:
• Response to Dental
Office Closures
• Promotion Programs
Extended Through
August 2020 ---------------------------------
Question of The Week
IMPORTANT DATES May 20 • CAHU & LAAHU Zoom
Happy Hour --------------------------------- May 21 • Mammoth HR (with
ThinkHR) Webinar:
Workplace Health &
Safety Post COVID-19 --------------------------------- May 22 • Small Business Majority
Webinar: 30-Minute
California Policy
Update --------------------------------- May 27 • CAHU & LAAHU Zoom
Happy Hour --------------------------------- May 29 • Application Deadline
- Blue Shield of CA
- Principal --------------------------------- June 3 • CAHU & LAAHU Zoom
Happy Hour --------------------------------- June 4 • Mammoth HR (with
ThinkHR) Webinar:
The FFCRA - What
Employers Need to
Know --------------------------------- June 8 and 9 • EIC20 Ease Innovation
Virtual Conference --------------------------------- June 10 • CAHU & LAAHU Zoom
Happy Hour --------------------------------- June 11 • IEAHU Lunch & CE --------------------------------- June 12 • SDAHU Golf
Tournament --------------------------------- June 27 • NAHU Convention --------------------------------- July 8 • GGAHU Annual Sales
Symposium --------------------------------- July 17 • LAAHU Annual
Symposium --------------------------------- July 29 • SAHU Virtual
Business Expo --------------------------------- August 5 • CAHU Women's
Leadership Summit --------------------------------- August 14 • OCAHU Celebration of
Women in Business --------------------------------- August 20 • BenefitsPro
Broker Expo --------------------------------- August 27 • SDAHU Pac Day at
The Races
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As always, we'll keep you informed about healthcare reform issues and news affecting you and your clients. Our knowledgeable team is here to help you succeed.