Written by Lisa Grossman
Posted 2 years ago
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Client Communication:
Period 1 | Period 2 | Period 3 | Period 4 | |
Claim Period | Mar 15 - Apr 11, 2020 | Apr 12 - May 9, 2020 | May 10 - Jun 6, 2020 | Jun 7 - Jul 4, 2020 |
Max. Benefit per Employee | $847.00 | $847.00 | $847.00 | $847.00 |
Baseline Revenue | March 2019
or average of January and February 2020 | April 2019
or average of January and February 2020 | May 2019
or average of January and February 2020 | June 2019
or average of January and February 2020 |
Claim Period Revenue | March 2020 | April 2020 | May 2020 | June 2020 |
Required Drop | 15% | 30% | 30% | 30% |
Period 5 | Period 6 | Period 7 | Period 8 | |
Claim Period | Jul 5 - Aug 1, 2020 | Aug 2 - Aug 29, 2020 | Aug 30 - Sept 26, 2020 | Sept 27 - Oct 24, 2020 |
Max. Benefit per Employee | $677.40 (60%x $1,129) | $677.40 (60%x $1,129) | $564.50 (50%x $1,129) | $451.60 (40%x $1,129) |
Revenue Drop | ||||
Over 50% | 60% | 60% | 50% | 40% |
0% to 50% | 1.2 x revenue drop | 1.2 x revenue drop | 1.0 x revenue drop | 0.8 x revenue drop |
Period 9 | Period 10 | Period 11 | Period 12 | |
Claim Period | Oct 25 - Nov 21, 2020 | Nov 22 - Dec 19, 2020 | Dec 20, 2020 - Jan 16, 2021 | Jan 17 - Feb 13, 2021 |
Max. Benefit per Employee | $451.60 (40%x $1,129) | $451.60 (40%x $1,129) | $451.60 (40%x $1,129) | $451.60 (40%x $1,129) |
Revenue Drop | ||||
Over 50% | 40% | 40% | 40% | 40% |
0% to 50% | 0.8 x revenue drop | 0.8 x revenue drop | 0.8 x revenue drop | 0.8 x revenue drop |
Period 13 | Period 14 | Period 15 | Period 16 | |
Claim Period | Feb 14 - Mar 13, 2021 | Mar 14 - Apr 10, 2021 | Apr 11 - May 8, 2021 | May 9 - Jun 5, 2021 |
Max. Benefit per
Employee | $451.60 (40%x $1,129) | $451.60 (40%x $1,129) | $451.60 (40%x $1,129) | $451.60 (40%x $1,129) |
Revenue Drop | ||||
Over 50% | 40% | 40% | 40% | 40% |
0% to 50% | 0.8 x revenue drop | 0.8 x revenue drop | 0.8 x revenue drop | 0.8 x revenue drop |
Period 17 | Period 18 | Period 19 | Period 20 | |
Claim Period | Jun 6 - Jul 3, 2021 | Jul 4 - Jul 31, 2021 | Aug 1 - Aug 28, 2021 | Aug 29 - Sept 25, 2021 |
Max. Benefit per
Employee | $451.60 (40%x $1,129) | $395.15 (35% x $1,129) | $282.25 (25% x $1,129) | $112.90 (10% x $1,129) |
Revenue Drop | ||||
Over 50% | 40% | 35% | 25% | 10% |
11% to 50% | 0.8 x revenue drop | 0.875 x (revenue drop - 10%) | 0.625 x (revenue drop - 10%) | 0.25 x (revenue drop - 10%) |
0% to 10% | 0.8 x revenue drop | 0 | 0 | 0 |
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