Group disability and life insurance benefits are often tied to earnings. Thus the carrier invoices and annual audits are handled by only those few people with access to sensitive earnings.
In a smaller business, that may only be one person.
Janet retired in mid-2019 as the Executive Director of a nonprofit. Invoices addressed to her were opened and paid but the new Exec hadn’t been schooled on how to enroll new hires.
Not a good thing when there’s a pandemic hovering.
The good news.
Carriers are pretty liberal about backdating enrollments to the time of hire if the employee is actively at work when the error is discovered.
Get out those invoices. Anyone missing?
Fix it!
P.S. The MMAC is doing a spectacular job of keeping the community informed about the progress of Covid-19 (Dr. John Raymond from the Medical College) and best practices for surviving shutdowns from other business leaders. Hundreds are attending each webinar on Tuesdays at 11:00.
I’m told this week’s focus will be on the small business stimulus aid programs. Click here to register.
