Helping your employees get vaccinated or requiring them to do so, isn’t just good for the overall health of your workplace, it may also save you money, according to Inc.
More than half of Louisiana’s population is still not fully vaccinated against coronavirus, posing not only health risks but the threat of financial loss as well:
• If an employee is hospitalized, it could cost tens of thousands. When employees sick with COVID-19 end up in the hospital and you supply their health insurance, you can expect higher coverage costs.
• COVID-19 testing isn’t always covered by insurance. If employees refuse to get vaccinated, another option is to ask them to adhere to regular testing and screenings, especially if they wish to go into the office. However, while some private insurers waive co-payments and deductibles for testing, many will not if the tests are not deemed to not be medically necessary, such as if an employee wants a test simply to work in the office, according to the Kaiser Family Foundation, a nonprofit dedicated to health policy in the U.S.
• You have to include the cost of replacing an employee. While an employee is out sick, there’s often a cost of covering that person’s responsibilities. Currently, the Families First Coronavirus Response Act, a piece of legislation extended in March, reimburses companies whose employees need to go on leave as a result of contracting the coronavirus. But that aid program is only in force until Sept. 30. Read the full story.