UPDATED – April 30, 2020
Please know that we are very concerned with the financial hardship you are in and are keeping daily tabs on the state of our restaurant sales in hopes that business will pick up soon. In the meantime, we want to provide some direction and information to all employees who currently are on company benefits.
- Beginning in April, all team members on benefits will begin to receive an invoice for any payments owed for your benefits not covered by your payroll. The communication will come via email and via hard copy letter to your address on file.
- You will have until the end of the month to make payments for your benefits for any monies owed. If not paid by the end of the month, your benefits will be cancelled.
Employees with Reduced Hours
- You are still responsible to pay your portion of your benefits. If the amount you owe for benefits exceeds your paycheck, you are still responsible to pay the difference due.
- If you fail to pay your benefits before your next paycheck, the company will move you to COBRA coverage. What does that mean?
- If you decided to stay on COBRA, you would have to cover the FULL premium of the benefit and you would lose the company’s contribution toward your benefits + any administration fees assessed from our 3rd party administrator.
- If you choose not to elect COBRA and decide to allow your benefits to lapse, you would not be eligible to re-enroll on our insurance until next year’s open enrollment period effective 1/1/21 if you still meet the eligibility requirements.
Furloughed Employees
- You will still be responsible for your portion of the benefits.
- If you fail to pay your benefits within 15 days, the company will move you to COBRA coverage. What does that mean?
- If you decided to stay on COBRA, you would have to cover the FULL premium of the benefit and you would lose the company’s contribution toward your benefits + any administration fees assessed from our 3rd party administrator.
- If you choose not to elect COBRA and decide to allow your benefits to lapse, you would not be eligible to re-enroll on our insurance until next year’s open enrollment period effective 1/1/21 if you still meet the eligibility requirements.
FAQs
What is COBRA and how does it work?
Please click the link below to read more information from the Department of Labor on COBRA FAQs
FAQs on COBRA Continuation Health Coverage for Workers
Where do I send my payments for my company insurance? (Not COBRA)
Checks are DUE within 15 days of payday. Please make checks payable to Taste Buds Management. Write “Benefits Payment” on the memo line (include your name if the name on the check is different than yours) and mail the check to:
Taste Buds Management
Attention: Accounting
8301 Oak Street
New Orleans, LA 70118
What happens to determine eligibility for next year’s open enrollment?
We will make some concessions and certainly take into consideration this time frame and how it impacted everyone’s hours. The truth is though, we have no idea what that will look like right now because we aren’t 100% sure when we will return to normal operations. Once we are back to normal operations, further information will be communicated.
If I elect COBRA can I move onto someone else’s coverage?
Usually a drop in your coverage is considered a “qualifying event”. However, we cannot guarantee each carrier’s rules for what is considered a qualifying event. So before you drop your insurance, please check with your potential NEW carrier and ask if that would qualify.
You also should consider looking at individual plans that may be available to you privately through a benefits broker, the Health Insurance Marketplace at HealthCare.gov, or Medicaid. More information can be found on the “FAQs on COBRA Continuation Health Coverage for Workers” document.
How long before I get my COBRA information?
Your COBRA packet is sent out 30 days AFTER your last date on the insurance. Your last day on insurance is the last day of the month in which you paid your premiums. The packet of information will come directly to the home address we have on file in Paycor, so please make sure you are keeping an eye out in the mail.
Does everyone have to stay on COBRA if I want to change who is on my insurance?
No. You are allowed to enroll some or all of the people currently on your insurance plan. However, if they were not previously on your insurance at the time your policy was cancelled, you will not be allowed to add someone new.