How insurers are dealing with PPE costs during COVID-19
COVID-19 has forever changed the way we do business.
COVID-19 has changed our lives and the way we do business. Many companies, especially those in the health care and dental sectors, are increasing the use of Personal Protective Equipment (PPE) to keep people safe. These expenses add to the cost of their service offerings.
Historically, PPE costs were ineligible expenses through a benefit plan.
What are Insurers doing?
In an effort to better serve their clients, some insurers have modified their traditional inclusions by deeming PPE costs to be eligible expenses under a Lifestyle/Wellness Spending Account or a Health Care Spending Account.
If your company’s benefit plan does not currently have a Health Care Spending Account, a plan amendment may be allowed to cover these out-of-pocket expenses for all members.
On the other hand, in support of these new safety measures, some insurers are also including the coverage of PPE fees in plans by default. Fees charged specifically for Personal Protective Equipment worn by dental care workers, such as masks, face shields, glasses and protective clothing will be covered.
At DK Financial Canada Inc., we are committed to keeping our clients up to date with new information and service offerings in this rapidly changing landscape. Consult with us to find out what options are available to meet the needs of your business, employees, and budget.
During this pandemic, health and safety remain a priority for the government. Businesses are continuing to receive rapidly changing information and guidance with respect to workplace safety protocols.
For more information and access to helpful tools and resources related to COVID-19, visit the World Health Organization (WHO) and the Government of Canada website.
