COVID-19 (Corona Virus) Resource Center
Message from our President Regarding Grace Periods to Our Union Members
DATE: April 9, 2020
TO: Our Union Brothers and Sisters
FROM: Employee Benefit Systems Management and Leadership Team
SUBJECT: Temporary Furloughs, Layoffs, and Reduced Hours, Payment Grace Period
Employee Benefit Systems, Inc. understands that the COVID-19 pandemic has caused Furloughs, Layoffs, and Reduced Work Hours for our Union Brothers and Sisters at an unprecedented rate. With these reductions in the workforce our Union Brothers and Sisters are suffering financially. Our service team has transitioned to a work from home model for our safety and that of our community. That has not stopped our EBS service team from servicing our members, not at all! We are proud as a company of the work we are doing. We have been speaking to the members, explaining their benefits and helping them through very tough claims situations in an extraordinary way.
At EBS we care about our members and believe in the products that we offer to the members and their families. Some of our members have life policies and some have wellness benefits that cover COVID-19 testing. We offer a wide range of coverage options that the members enrolled in and selected for the financial protection of their families. We believe that there has never been a more important time to continue the valuable insurance coverage that the members may need during this time of National Emergency.
Typical grace periods are 30 days for life insurance but can vary by product and insurance carrier. Late payments can result in the members coverage lapsing or terminating. In some cases, a policy can be reinstated by catching up payments once the policy has lapsed, but insurance companies are under no obligation to reinstate coverage once a policy has lapsed.
With our members, their coverage, and our privilege to serve the members and their families in mind, we have connected with every insurance partner whose products we represent. Each insurance carrier has agreed to our request that they extend the grace period for payment a minimum of 60 days or June 1st for members who have been Furloughed, Laid off, or have Reduced Work Hours and cannot afford the premiums at this time. Some carriers have extended grace periods even beyond 60 days. Additionally, when our members get back to work, we understand there will be premiums that will need to be caught up to retain their coverage. With that in mind, we are working with the insurance carriers on a plan for “catch up payments” to be split into multiple payments. It is our honor to continue to serve the members and their families at this time.
May you stay safe, be well, and know, we are all in this together.
-Your EBS Team
EBS Company Response (Work from Home)
EBS has taken several steps to ensure we can support our insureds and union members through the Coronavirus (COVID-19) pandemic. As always, the health and safety of our members, colleagues, and communities remain our top priority.
With that in mind, effective March 25th, the EBS office staff will work from home during the shelter-in-place order. Our capabilities to communicate with our union members and carrier partners will continue uninterrupted. If you have questions on service related items, claims, sales, etc. please continue to work with your sales and service staff contacts as you normally would. The contact information remains the same.
We appreciate our union members and we appreciate your continued support. We are all in this together and we assure you that EBS is here when you need us.
We are following state and local guidelines and will reopen the physical office as soon as it is safely possible
Our thanks and appreciation.