Sick leave: what solutions are available to transfer the financial risk?
Several solutions are available to help employers meet the legal obligation to replace workers on sick leave. Some of the less well- known ones can resolve these financial problems. Review of the various solutions.
“If a worker is prevented from work- ing through no fault of his own due to causes inherent in his person, such as illness, an accident, the fulfilment of legal obligations or public duties, the employer must pay him his salary for a limited time, including fair compensation for lost wages in kind, as long as the employment relationship has lasted more than three months or has been concluded for more than three months.”
If employers wish to provide proper protection for employees who are off sick and coordinate their coverage, there are three solutions available to insure health-related losses*:
In terms of financial optimization, the two alternative systems, “stop-loss” and self-insurance, clearly stand out. However, they are not suitable for all businesses. An analysis of the requirements and the scenarios of each model therefore becomes essential and requires the use of an insurance broker.
Including analysis, forecasts and advice, Yvan Roux, Director of the Corporate Business Unit, presents the services developed by Swiss Risk & Care to help you in choosing your personal insurance plan.
Why use a broker?
How do you determine the best solution?
Do your actions have impacts on absenteeism?