Coronavirus disease 2019 (COVID-19), commonly known as the “coronavirus” has raised many challenges for businesses. Among those challenges are the variety of employee related issues being raised. In addition to complying with various employment laws, including the new emergency leave laws and tax credits (see our blog), employers also have to consider the impact on their employee benefit plans. From privacy concerns related to sharing employee COVID-19 information to employee access to retirement funds, COVID-19 creates many questions for human resources professionals.
Our alert (Top 10 Employee Benefits Issues in a Slowing Economy) was prepared by a cross-functional team of privacy, labor and employment and ERISA/employee benefits specialists with the intent to provide a list of some of these concerns to start the discussion regarding the COVID-19 impact on employee benefits.