Popular COVID-19 Questions and Answers (Q&A) for Dentists’ and Dental Practice Owners
Dear clients
Here is another set of questions you’ve all been asking, and our answers to those questions:
- As an employee of my corporation, should I file for unemployment?
- The work performed as “emergency” or “essential” work will be reported in the weekly re-certification and may exclude you from receiving additional benefits. The claims form specifically asks in question six if you worked or earned money during unemployment “whether you were paid or not.”
- The maximum weekly benefit received is $450. The time and hassle of filing the initial claim and the weekly re-certification of benefits may not outweigh the benefits
- If you’re taking draws outside of payroll, that would disqualify you from receiving benefits.
- All unemployment benefits are subject to federal taxes.
- You can likely expect an increase in your 2020 state unemployment rates as a result of the claim.
- If you’re attempting to refinance a personal home loan, this will harm your ability to do so.
- Can I pay out PTO now and my staff still be eligible for unemployment income?
- When are my 2019 tax returns and any required payments due?
- What are some ways I can engage my patients during this period?
- Sending letters to their patients offering a discount (e.g. 20%) if they prepay treatment now. Or perhaps issuing a credit for payments they send now that can be used for future treatment with a 20% discount of your UCR. You can explain in the letter that it’s your effort to support your team through this difficult time. Patients will appreciate your effort to care for your staff.
- Hold virtual meetings with your patients (e.g. Zoom) to discuss their dental pain and determine if emergency treatment is needed. Some clients are even using virtual visits to do a high-level dental evaluation.
- Calling patients that were previously scheduled for important treatments to check in and keep them focused on the treatment. This way when you open doors, they’ll quickly schedule.
- Sending a letter to patients outlining your protocol to maintain a sterilized, sanitized office, so when you open doors, they can feel confident about returning to your office. A lot of people will still be cautions even after government leaders authorize us to resume business. This letter may help your patients feel more comfortable coming to your office.
- Here are additional recommendations from Imtiaz Manji with Spear Education.
- Can I “loan” my employees’ money by paying them now outside of payroll. When they return, I can deduct that pay from their paychecks. This way I can provide financial support to them now without disqualifying them from receiving unemployment income.
- What are some of the provisions in the new Coronavirus Aid, Relief, and Economic Security (CARES) Act that is going through congress (stimulus package part 2)?
- There may be new loans available to businesses. These loans could be forgiven if used to pay and retain employees.
- It provides direct payment to individuals and families. The amount would be $1,200 per adult and $500 per child if the income levels are low enough (About 100K for single individuals and $200K for married couples, depending on how many children are in the family). This is refundable if they have no taxable income.
- The Act would allow for a deferral of the 6.2% FICA tax employers pay for employees. To reiterate, that’s a deferral and would need to be paid back once the year is over. It would be paid back over two years.
- I heard that I can delay paying insurance premiums for up to 60 days. Is this true and does it apply to our group health insurance plan?
- Can I still pay my staff even if they’re not working?
- Should I continue to pay health insurance premiums for my employees while the office is closed?
- Is there any further guidance on whether or not Dentists are exempt from the Coronavirus bill that past last week requiring us to provide emergency sick and family leave pay to our employees for up to 12 weeks?