december webinar - leavelogicleavelogic.com/wp-content/uploads/2016/12/leave... · •sending...
TRANSCRIPT
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December Webinar
Making Family Leave Easier on Companies and Employees
Seattle | San Francisco | Washington D.C. | Kansas City WWW.LEAVELOGIC.COM Tel: 757.655.3283 | [email protected]
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2www.leavelogic.com
Welcome
Moderator
Anna Steffeney
CEO and Founder
LeaveLogic
www.LeaveLogic.com
Chris Bobbitt
Co-Founder
Freya Solutions
www.freya.cielostar.com
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Summary of Legislative Movements
• San Francisco Hearing
• Washington DC
• Montgomery County, Maryland
• Minnesota
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San Francisco Hearing
• Draft of Paid Parental Leave Ordinance just released
• http://sfgov.org/olse/paid-parental-leave-ordinance
• Hearing Details: December 2, 2016 at 1:00pm
• OLSE is soliciting public comments on the draft
• Sending written comments via email to [email protected] by Friday, December 2,
2016 at 5:00 p.m PST
• Appearing in person and testifying at the public hearing, to be held at SF City
Hall on Friday, December 2, 2016 at 1:00 p.m.
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Washington DC
• D.C. City Council to vote on the Universal Paid Leave Act of 2015
• If passed, most progressive paid leave law in the country
• Would be the first jurisdiction to create paid family and medical leave
policy from scratch
• Rush to pass by end of year
• http://www.dcpaidfamilyleave.org/updates/2016/10/13/will-the-nations-
capital-become-a-national-leader-on-paid-leave
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Montgomery County, Maryland
• Bill 32-16 was unanimously passed by the county council on Nov. 1
• Goes into effect immediately
• Accrued sick leave for parental purposes
• Care for newborn or adopted and foster children
• Bill applies to anyone who works for a company in Montgomery County
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Minnesota
• 4th state to pass paid family leave law
• Still needs legislative approval, next year
• Other states: California, Washington, and New Jersey
• (New York is coming in 2018)
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Thank you!Thank you!Q & A with Chris Bobbitt
Co-FounderFreya Solutions
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Questions
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What is Freya?
• Freya Solutions
• Makes Paid Parental Leave affordable for small to medium sized employer
• Up to 52 weeks of 100% paid leave for:
• Child birth
• Foster Care
• Adoption
• Risk pooling insurance policy, not short-term disability insurance
• Focused on enabling businesses to reap the benefits of improved employee moral and engagement
• Every employer get a paid leave document that can be used in an employee handbook
• Partnership with Lloyds of London, covers claims 100%
• Nothing like it right now!
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When was Freya started?
• Started work in middle 2015
• Started marketing early Nov. 2016
• Just getting started!
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Why Freya
Designed the world’s simplest insurance product to mitigate concerns.
Investigated the pains involved with building a robust parental leave program.
Dreamed of a Future where All Businesses could offer world class benefits.
Noticed the Struggle with Maternity and Paternity Leave
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Who Benefits from Freya Insurance
• Available nationwide, not particular to state or city
• Really great for companies with less than 500
• Variants of the product attractive to employers of
• Some volatility in the number of people on parental leave can be disruptive
to workforce
• Sweet spot is small companies that want to offer big company policies but
need to mitigate costs
• Should be available to any employer, that’s the vision
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How to Get a Quote
• Basic Employee Census Data
• Same sort of information used for health insurance and workers comp
insurance
• Can turnaround same day or faster
• ROI calculator available on website
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How do employees file a claim?
• The employer works with Freya directly to file claims.
• Simplifying complexity that can exist with paid parental leave
• Don’t want to get in the way of employee/employer
• Employer pays employee, we reimburse the employer
• Want employers to get the benefits of offering robust benefits
• Simple claims process for the employer
• HR validates the childbirth, adoption or foster care situation
• Much simpler than claims process at state or disability carrier level
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What type of Savings can Employers Expect?
• Example: 50 person employer, wants to offer 12 weeks
• Could spend up to 1-3% of payroll or as much as 6% in a year
• With Freya: Most employers spend a flat amount from 1-1.5%
• Possibly less if employers taken advantage of discounts for benefits already in
place (i.e. California benefits or current STD benefits)
• Not competing with current coverage, just filling in gaps and making a better
experience
• Cost of insurance is tax deductible as well as additional cost savings
• Employee size and legislative changes are always considered and coverage can
be adjusted
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Freya Solutions Team
Chris Bobbitt
Tarik
Scott Polkinghorn
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Learn More
Freyasolutions.com
Work with your insurance broker
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Thank you!