​PER OXFORD
 
Good Morning,
 
We wanted to bring to your attention that the State of New York has issued an Emergency Regulation that allows policyholders who can demonstrate financial hardship as a result of the COVID-19 pandemic to apply for an extension to pay future premiums until June 1, 2020 at 11:59 p.m. Eastern Time. 
 
Attached are the two NY premium payment extension letters that are being sent to Oxford customers, one is for accounts that have paid through April, the other is for accounts that are unpaid for April and prior months. We are sending letters or emails to all NYSG policy holders advising them of the availability of the grace period extension. We also provided a breakdown of what the letters entail below:
 
Letter for unpaid:
 
If you are experiencing financial hardship as a result of the COVID-19 pandemic, you may be entitled to an extension to pay premiums without late fees until June 1, 2020 at 11:59 p.m. Eastern Time.    
In order to confirm your intent for an extension of premium payment(s), please send an email to billing_team@uhc.com with the following verbiage:

• I hereby attest that I am experiencing financial hardship related to COVID-19 and would like to request a premium payment extension until June 1, 2020.  I understand by doing so that I am contractually committed to pay March, April and May premium by June 1, 2020 at 11:59 p.m. Eastern Time. 

 
If your intention is to have your current coverage lapse, please send an email to billing_team@uhc.com with the following information:

• My intention is to have my current coverage lapse
  • Group Name, Policy Number, Requested Termination Date, Reason for Termination

 
The State of New York has also requested us to provide you with the following additional information:

• If you request an extension, we will not impose any late fees; report you to a credit reporting agency or debt collection agency with respect to such premium payments during the extension.
• You may contact us to discuss other billing options and/or other alternative payment arrangements. To do so, please call Oxford Financial Operations team at 1-800-366-4148, TTY 711, 8 a.m. to 5 p.m. Eastern Time, Monday through Friday, to speak with a representative.
• You may also contact us to discuss other coverage options, to do so, please contact your current Strategic Account Executive or broker.
• If you would like to consider coverage options with one of the New York State of Health Marketplace plans, you may contact them at https://info.nystateofhealth.ny.gov/contact.

 
Letter for Paid:
 
You are not required to take any action.  If you do nothing, you will be billed for upcoming premiums in your normal manner.  However, if you are experiencing financial hardship as a result of COVID-19 and need assistance, you can request an extension or discuss other alternative payment arrangements by calling us at Oxford Financial Operations team at 1-800-366-4148, TTY 711, 8 a.m. to 5 p.m. Eastern Time, Monday through Friday, to speak with a representative.   Please note that this is simply an extension to pay premiums for those in need and not a waiver or forgiveness of the premium payments. 
In accordance with the terms of the Emergency Regulation, please note the following:

• If you request an extension, we will not impose any late fees; report you to a credit reporting agency or debt collection agency with respect to such premium payments during the extension.
• You may also contact us to discuss other coverage options, to do so, please contact your current Strategic Account Executive or broker.
• If you would like to consider coverage options with one of the New York State of Health Marketplace plans, you may contact them at https://info.nystateofhealth.ny.gov/contact.

 
As always, we appreciate your business and are available to assist you during this difficult time.
 
 
Sharon Washwick
Chief Operating Officer
 

#TeamWashwick
Health. Medicare. Life. Business. Auto. & More
860 E. Main St.
Riverhead, NY 11901
Phone: 631-369-0888
Fax: 631-369-0618
 www.washwick.com
 
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​Dear Valued Insurance Customer,
 
 
            We hope that this message finds you and your family safe and healthy.  
 
            These are difficult times. The New York Legislature and Department of Financial Services have been implementing emergency measures in an effort to protect insurance policyholders who have been hit with financial hardship because of the COVID-19 pandemic.  Regulations they enacted apply to most insurance policies and include: the waiver of late fees; the prohibition on reporting negative data to credit reporting agencies; and the repayment of late premiums over a 12-month period.
 
If you have been impacted by this pandemic, this means help may be available.
 

•          If you can demonstrate that you’re unable to make a timely premium payment due to financial hardship because of the COVID-19 pandemic, you may be able to pay such premium over a 12-month period.  

 

•          If your policy is financed through a premium finance agency, they may be required to provide a grace period before cancelling your policy for late payment of an installment if you can demonstrate financial hardship because of the COVID-19 pandemic. This grace period will be 60 days for a property/casualty policy; 90 days for a life insurance policy.  You may be given a 12-month period to pay the missed installment, and the premium finance agency may not impose late fees or  report you to any credit reporting agency or debt collector because of that installment.

 
You may prove hardship by submitting a written attestation to the insurance company or premium finance agency regarding your financial hardship resulting from the COVID-19 pandemic.  The full text of the relevant regulations can be read here: https://www.biginy.org/nysdfs.
 
 
If you have any questions about this or your policy, don’t hesitate to contact our team. We’re proud to continue helping you protect what matters most.
Stay safe,
 
Sharon Washwick
#TeamWashwick
860 East Main Street
Riverhead NY 11901
t. 631-369-0888
f. 631-369-0618
Team@washwick.com
www.washwick.com
 

​Policyholders:
 
Notice Regarding: Life Policies, Annuity Contracts, and Fraternal Benefit Society Certificates
 
A recent Executive Order issued by Governor Cuomo, together with recent amendments to the insurance and banking regulations (the “regulations”) issued by the New York State Department of Financial Services (“Department”), extend grace periods and give you other rights under your life insurance policy or annuity contract if you can demonstrate financial hardship as a result of the novel coronavirus (“COVID‑19”) pandemic. These grace periods and rights are currently in effect but are temporary, though they may be extended further. Please check the Department’s website at dfs.ny.gov/consumers/coronavirus for updates.
 
A copy of the Executive Order and regulations can be found at: governor.ny.gov/news/no-20213-continuing-temporary-suspension-and-modification-laws-relating-disaster-emergency and dfs.ny.gov/system/files/documents/2020/03/re_consolidated_amend_pt_405_27a_27c_new_216_text.pdf, respectively.
 
Insurance Payments – Grace Period
If you can demonstrate financial hardship as a result of the COVID-19 pandemic, your insurer must extend the applicable grace period to 90 days for the payment of premiums and fees under your life insurance policy or annuity contract. If you do not make a timely premium payment and can demonstrate financial hardship as a result of the COVID-19 pandemic, your insurer may not impose any late fees relating to the premium payment or report you to a credit reporting agency or a debt collection agency regarding such premium payment.
 
Catching up on Overdue Insurance Payments
The regulations also require your insurer to permit you to pay the overdue premium over a 12-month period if you did not make a timely premium payment due to financial hardship as a result of the COVID-19 pandemic and can still demonstrate financial hardship as a result of the COVID-19 pandemic. This also applies if the insurer sent you a nonpayment cancellation notice prior to March 29, 2020.
 
Policies Financed by Premium Finance Agencies – Grace Period
If your life insurance policy or annuity contract has been financed through a premium finance agency, and you do not make an installment payment, the premium finance agency may not cancel your life insurance policy or annuity contract for a period of at least 90 days, including any contractual grace period, if you can demonstrate financial hardship as a result of the COVID-19 pandemic, and subject to the safety and soundness of the premium finance agency. In addition, if you do not make a timely installment payment to the premium finance agency and can demonstrate financial hardship as a result of the COVID-19 pandemic, the premium finance agency must extend the due date for the installment payment by at least 90 days, may not impose any late fees relating to that installment payment, and may not report you to a credit reporting agency or a debt collection agency regarding that installment payment.
 
 
Catching up on Overdue Payments to Premium Finance Agencies
If you do not make a timely installment payment to the premium finance agency due to financial hardship as a result of the COVID-19 pandemic, the premium finance agency must permit you to pay the installment payment over a 12-month period if you can still demonstrate financial hardship as a result of the COVID-19 pandemic, subject to the safety and soundness of the premium finance agency. This also applies if the premium finance agency issued a non-payment cancellation notice prior to March 29, 2020.
 
How to Demonstrate Financial Hardship
If you are unable to make a timely premium payment due to financial hardship as a result of the COVID-19 pandemic, you may submit to your insurer or premium finance agency, as applicable, a statement that you swear or affirm in writing under penalty of perjury that you are experiencing financial hardship as a result of the COVID-19 pandemic, which the insurer or premium finance agency, as applicable, shall accept as satisfactory proof.  Such statement is not required to be notarized.
 
For further details, please visit:
 
Executive Order 202.13 signed by Governor Cuomo on March 7, 2020:
governor.ny.gov/sites/governor.ny.gov/files/atoms/files/EO_202.13.pdf
 
Department of Financial Services Amendment Regulation signed on March 29, 2020:  
dfs.ny.gov/system/files/documents/2020/03/re_consolidated_amend_pt_405_27a_27c_new_216_text.pdf
 
Questions
If you have any questions regarding your rights under the Executive Order or regulations, please contact your insurer, broker, or premium finance agency.
 
 

The CARES Act law took steps to include the self-employed in the economic relief plan.

The ACT includes the following help:

- Access to unemployment insurance (never before accepted!)
- Self Employed offered an additional $600 a week in unemployment insurance.  
- Weekly payouts to $800 - $900 week range when state benefits are added.
- Up to 4 months.
​
labor.ny.gov/ui/cares-act.shtm
​

#TeamWashwick hopes you are staying safe in this difficult and unprecedented time.  We are providing Friday's update on what will affect your business & employees during this time.
 
We have included some information below and seperatley attached PDF information, applications and direction.
 
CARES RELIEF ACT:
In the recent 2 trillion dollar CARES Act Economic Relief Plan, there is $349 Billion allocated to help small businesses with less than 500 employees.  You can click on the link below to apply for an SBA COVID-19 Disaster Loan, with loan forgiveness for 8 weeks of salaries, rent, utilities and a $10,000 loan advance deposited into your checking account within 3 days of your approved application.   
https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources
 
Also find this information attached.
Paycheck Protection ProgramThe Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses.
Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.
Under this program:
o    Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
o    Loan payments will be deferred for six months.
o    If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
 
Click here to learn more.
 
If Link doesn't work utilize the copy and paste below:
 
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp
 
 
 
Economic Injury Disaster Loans and Loan AdvanceTo apply for a COVID-19 Economic Injury Disaster Loan, click here.
 
If Link doesn't work, utlize the copy and paste below:
 
https://covid19relief.sba.gov/#/
 
 
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
 
 
#TeamWashwick A Team for ALL your insurance needs.
 
Please don't wait to reach out to the Team! We are here to help.
 
 
 
Sharon Washwick
Chief Operating Officer
The Washwick Agency, Inc.
860 East Main Street
Riverhead NY 11901
​

w #TeamWashwick wants to ensure you have answers to your business questions. Please find some further information that we feel is the most helpful for you during this difficult time.

LAYOFF VS. FURLOUGH

• What is the difference between layoff and furlough?

Generally, when the employer is furloughing employees, this is a situation where the employer/employee relationship is not severed. Conversely, when the employer is laying off employees, the employment relationship is terminated.

• Under a layoff, will I lose health benefits?

Under a layoff, the employment relationship terminates; therefore, the employee loses eligibility under the plan. Termination from employment is a COBRA triggering event for the health benefits (medical, dental, vision, health FSA, etc.) Loss of eligibility is also a qualifying special enrollment event for the individual market.


If COBRA is elected and the person does not enroll in individual coverage, they can not do so until the next annual open enrollment for the marketplace.

• If my employee or I am laid-off, can I/they enroll in an individual plan instead of COBRA?

Yes. Loss of eligibility is also a qualifying special enrollment event for the individual market.
If COBRA is elected and the person does not enroll in individual coverage, they cannot do so until the next annual open enrollment for the marketplace. You are “stuck” with COBRA, for the remainder of the COBRA period, until the future yearly marketplace open enrollment or until you become eligible for new group health plan.


If I enroll in an individual plan, can I receive a subsidy to help pay for the cost of the plan?
To qualify for a subsidy (premium tax credit), there are specific criteria you must meet; most notable eligibility is based upon income. 


NOTE: #TeamWashwick works with the Individual Market. We can help! We are offering * COVID-19 Consultation Relief * No fee for assistance in enrolling in a plan that #TeamWashwick can sell. 


 Call & ask for Tristen Heidenrich today! 631-369-0888 ex 104

• Who pays for COBRA coverage?

The employee generally pays the full cost of the insurance premiums. The law allows the employer (COBRA administrator) to charge up to 102 percent of the premium to cover administrative costs
Employers can choose but are not required to subsidize COBRA for terminated employees.

• Under furlough, will I/ employee lose health benefits?

All eligible employees are still entitled to benefits while on furlough. If eligibility for health care benefits is maintained during a furlough, the employer can collect the employee’s share of the premium to keep the coverage during a paid or unpaid leave of absence

• How do I/or how does the employee pay employee contribution if they/I am being furloughed?

Premiums may be collected (as determined by the employer’s policy) in one of the following manners:

1. Catch up. Some employers choose to keep employees on leave enrolled in their benefits until they return to active work, and then recoup those payments at the time the employees return to work. If there is a reasonably large premium payment due at the time the employees return to work following the leave, it may be necessary for the employer to take deductions over several payroll periods. In some cases, state wage and hour laws will limit the amount that can be deducted from pay (thus, the cap may be necessary). 
2. Pre-pay. If the leave is scheduled in advance, and the employee remains eligible for benefits during the leave, the employer may collect the employee’s share of premium for the rest of the plan year from the employee’s pre-tax earnings before the start of the leave. However, if the leave is anticipated to span more than one plan year, then the employer cannot collect the premiums for the latter part of the leave since this would violate the cafeteria plan regulations prohibiting deferred compensation.
3. Pay-as-you-go. During the leave, the employer may require the employee to pay the employee’s portion of the premiums to maintain coverage. Such payments would generally be on an after-tax basis, by remitting payment to the employer, and the employer could require payment no more frequently than regular deduction frequencies for employees during periods of active work. Most employers collect premiums from employees on leave of absence on a monthly basis.

In cases where there is paid leave, the employer may collect those premiums through salary reductions under the cafeteria plan. However, for periods of unpaid leave, where the “pay as you go” method for collection is utilized, the employee would remit those amounts to the employer on a post-tax basis.


- If you do currently pull deductions "pre-tax" and need a Section 125 Cafeteria Plan - please reach out to your #Team here at Washwick.

<information provided by #TeamWashwick in collaboration with Savoy Associates. General Agency. www.savoyassociates.com